Record bills and payments in other currencies
Enter a bill or transaction in euros, pounds or another currency, with the exchange rate Plainstamp uses to convert it into your main currency.
Some vendors bill you in another currency. Plainstamp lets you record the bill or transaction in that currency, with the exchange rate to your workspace's main currency, so reports and totals still add up.
Enter a bill or transaction in another currency#
Start a new bill or transaction as usual.
Type the amount as it appears on the invoice (in the foreign currency).
In Currency, pick the currency, for example EUR · Euro.
A rate box appears, labelled like 1 EUR = ? USD. Either:
click Today's rate to fill in the day's reference rate, or
type the rate from your bank or card statement.
Under the rate, Plainstamp shows what the amount comes to in your main currency. Check it.
The Currency and exchange rate fields, showing 1 EUR = 1.08 USD and the total in dollars Save as usual.
How totals are converted#
The amount is stored in the currency you entered, and shown that way on the item (for example €1,200.00), with the converted amount underneath (= $1,296.00 at 1.08 USD/EUR).
Board totals, the vendor's Paid figures, reports and budgets use the converted amount at the rate saved with each item. Later changes in exchange rates don't change past items.
Payments toward a foreign-currency bill are recorded in the bill's currency, at the bill's rate.
Checks print in your main currency only. Pay a foreign-currency bill another way, such as ACH / wire.
A vendor statement adds amounts as written. If a vendor has bills in more than one currency, the statement says so.
Rates far from today's are checked#
If the rate you type is more than 25% away from today's reference rate, Plainstamp won't save it and shows today's rate so you can fix a typo. If an employee enters a foreign amount and today's rate can't be checked, it goes for approval even if it fits their spending limit.
If Today's rate can't reach the rate service, you'll see Couldn't get today's rate. Type it in from your bank statement.
Change your main currency#
Owners and admins choose the main currency in Settings under Money > Main currency. Changing it away from the one you started with needs the Small plan or above. Reports and totals are always shown in the main currency.
When you pick a new main currency, Plainstamp warns you and asks what to do with what you already have: Convert existing amounts to … at a rate you enter in 1 USD = ? EUR (or fill in with Today's rate), or Just change the currency, don't convert. When converting, entries in a third currency keep their amount and their rate is updated. See My totals look wrong after I changed the main currency.