Multi-Currency: Setting up an International vendor for foreign currency bills

Multi-Currency is the ability to enter a bill in foreign currency.

This feature is available for Payables only and is not available for Receivables.

Setting up an existing vendor to enter foreign currency bills

If a bill has not yet been created for a vendor, you can edit their bill currency. Once a bill has been created for a vendor, the currency cannot be changed. If another type of currency is needed for an existing vendor with previous bills, a new vendor record will need to be created.

  1. Click Edit or More Options then Edit Vendor on the International vendor's record
  2. Select the bill currency from the list of default currencies shown based on the vendor's country (edit the vendor's country to change the default currencies offered)
    • Bills can be in USD and payments in a foreign currency if desired, but bills in a foreign currency can only be paid in the same currency
    • Select Show all currencies if you need to enter bills in a currency that is not local to the country selected, but keep in mind, payments can only be sent in the default currencies offered
  3. If you have it, you can also enter bank information for International wires at this point. See the International Wires article at the bottom of this page for more information
  4. Click Save

Create a new multi-currency vendor

  1. Click Vendors in the left navigation pane
  2. Click Add Vendor
  3. Enter vendor name
    • Possible network connections will be presented, but vendors connected through the Network cannot be international/multi-currency, so ignore these matches and continue entering information manually
  4. Enter in the vendor's email address and physical address, inicluding the country applicable to the currency of the bills they will have
  5. Select your Vendor's bank location
    • Vendor bank location field will default to the same country selected in the vendor's address, but can be changed by selecting another country from the drop-down
  6. Select the currency you'd like to use for this vendor's bills
    • Bills can be in USD and payments in a foreign currency if desired, but bills in a foreign currency can only be paid in the same currency
    • Select Show all currencies if you need to enter bills in a currency that is not local to the country selected, but keep in mind, payments can only be sent in the default currencies offered
  7. If you have it, you can also enter bank information for International wires at this point. See the International Wires article at the bottom of this page for more information
  8. Enter additional vendor details
  9. Click Save

Things to know

  • Once Multi currency is enabled, it cannot be disabled
  • Multi Currency is not supported with recurring bills setup or Auto pay
  • For accounts syncing with QuickBooks Online, QuickBooks for Windows, Xero or Intacct, if Multi-Currency is NOT enabled in the accounting software, foreign currency Vendors, Bills and Payments will NOT sync. Entries will need to be manually entered into the accounting software if needed.
  • For accounts syncing with NetSuite, Multi-Currency must be enabled in the accounting software to use Multi-Currency in Bill.com
    • If syncing with QuickBooks for Windows, the Bill.com sync dashboard will need to be upgraded. If the sync dashboard is not upgraded, foreign currency vendors & bills will sync to QuickBooks for Windows as USD. Download the new Bill.com Sync Dashboard (~941 KB)
  • The ability to create foreign currency bills is supported on the Bill.com mobile app for vendors already set up for foreign currency bills via the online version of Bill.com, both IOS and Android.
    • Foreign currency setup for International vendors is not currently supported within the mobile app
  • Payments can only be made from your USD bank accounts. USD equivalent for your foreign currency bills will be shown to you at the time of payment and your accounts will be debited for the USD dollar amount.
  • If an international vendor record has been set up for foreign currency bills to be entered, they can only be paid in foreign currency
  • If a bill has not yet been created for a vendor, you can edit their bill currency. Once a bill has been created for a vendor, the currency cannot be changed. If another type of currency is needed for an existing vendor with previous bills, a new vendor record will need to be created.
    • We recommend naming these vendors differently. For example, < Vendor name >(USD) and < Vendor name >(foreign currency acronyms)
    • These duplicate vendor records should not be merged
      • Bill.com does not allow bills with different currencies under the same vendor record
      • If vendors are merged, all bills will change to the currency selected to be kept
        • Bills where currency is changed will cause sync errors, if Multi-Currency is on in the accounting software, because it no longer matches the currency in accounting software