Currencies

Your home currency is the euro – this is fixed. In addition, every company has all currencies with an ECB rate active from the start (29 currencies, e.g. Swiss franc, US dollar, British pound, Polish złoty) – including newly created companies. You can deactivate or remove currencies you don't need; other currencies without an ECB rate are added with a company rate. Quotes, orders, invoices and credit notes are then in the customer's currency; accounting, the DATEV export, the OSS report and all sales reports keep calculating in euros.

#Before you start

Currencies can be added and changed by roles with the "Manage document defaults (payment methods, process statuses, text templates, custom fields)" permission (usually Owner and Administration). Anyone with "View orders" or "View quotes, delivery notes and invoices" can view them.

#Activating a currency

1. Click the gear at the top right and open Currencies (group General).
2. Click Add currency.
3. Choose the currency from the list. The latest ECB rate is shown next to each currency.
4. Optional: enter a Company rate (1 EUR = …) (see below) and a Note. The Active switch is on – inactive currencies can't be selected in new transactions.
5. Click Add currency.

For each currency the list shows the Status, ECB rate (1 EUR =), ECB date, Company rate and which rate applies to new transactions (Applies to new transactions; "Rate missing" if there is none yet).

Right-click a currency to choose Edit…, Deactivate (or Activate) or Remove…. Existing orders and documents keep their currency and rate – even if you remove the currency later.

#Where the rates come from

allverto uses the official euro reference rates of the European Central Bank (ECB). The ECB publishes them every working day at around 16:00 CET; allverto fetches them at around 16:20 (retries at 17:20 and 18:20) and catches up on missing days at startup. The rates are the same for all companies.

A rate always means: 1 EUR = x foreign currency, e.g. "1 EUR = 0.9313 CHF". Fetch rates now retrieves the rates immediately. You can also check in the Sync overview whether the daily fetch worked.

#Company rate

If you have agreed a fixed rate with a customer or work with your own rate, enter it as the Company rate. It replaces the ECB rate for new transactions until you clear the field again. Existing transactions are not affected.

#Choosing the currency in a transaction

In the transaction window the currency is at the bottom right in the Summary tab:

1. Choose the currency in the Currency field. allverto loads the rate for the transaction date (company rate, otherwise ECB).
2. If line items have already been entered, allverto asks: Convert prices (each unit price is converted via the euro and rounded to the cent) or Keep prices (the figures stay and now apply in the new currency).
3. Below the currency you'll see the rate with its date and source. You can overwrite it – it then counts as "manual in the transaction". The arrow icon loads the current rate again.
4. Save the transaction. The rate is now locked on the transaction.

#Shop and marketplace orders

If a shop or marketplace delivers an order in a foreign currency (e.g. Shopify in CHF), allverto takes over the currency of the order and the rate of the order date (company rate, otherwise ECB). The prices stay as the shop reported them.

#Documents in a foreign currency

• PDF: all amounts are in the document currency. Below the totals you'll find the rate with source and date, plus the grand total, net amount and VAT per tax rate in euros.
• E-invoice (XRechnung): the invoice currency is the document currency; VAT is additionally stated in euros (tax currency EUR).
• Rounding: amounts to 2 decimal places, VAT per tax rate – in the document currency as well as in euros.

#Accounting and reports

You record payments on an invoice in a foreign currency in the document currency. For the DATEV export allverto converts them with the document's rate; exchange differences on the payment date are booked by your tax adviser.