Multi-Currency: Sync with Accounting Softwares
- Once Multi-Currency is turned on it cannot be turned off
- 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 Multi-Currency is enabled in the accounting software, foreign currency Vendors, Bills and Payments will sync
- Foreign currency bills will sync, to or from the accounting software, with the indicative exchange rate on the bill, which is just a guideline and may not be the actual exchange at the time of payment
- The payment will sync with the actual exchange rate
- A separate AP ledger will be needed for each type of currency used
- Depending on the accounting software, this may happen automatically
- If the Multi-Currency feature within the accounting software has been set up properly, the difference between the bill's indicative exchange rate and the payments actual exchange rate will show in the unrealized Gains and Losses report
- To ensure Multi-Currency is set up properly in the accounting software, reach out to the Accounting software support team
QuickBooks for Windows
- To use our Multi-Currency feature, upgrade the sync dashboard to the latest version. If the sync dashboard is not upgraded, foreign currency vendors & bills will sync to QuickBooks for Windows as USD.
- Note: The sync dashboard requires Microsoft .NET framework 4.6 to run properly. If on .NET framework 4.7 or later, 4.6 may still need to be manually enabled.
- Download the new Bill.com sync dashboard (~941 KB)
- Payment for a foreign currency bill will cause a sync error because Intacct does not accept future process dates for payments to non-usd bills
- The payment will sync to Intacct and the sync error will clear itself upon the first sync on or after the payment process date
- Multi-Currency needs to be enabled in NetSuite in order to use Multi-Currency in Bill.com. If Multi-Currency is not enabled in the accounting software but enabled in Bill.com, the sync stops working.