Multi-currency transactions will sync with most of the accounting software versions Bill.com syncs with. The settings and process can vary depending on your accounting software and its settings. Check out the details below, based on the software you sync with your Bill.com account.

Jump to:

• How it works
• QuickBooks Online
• QuickBooks Desktop
• Xero
• Sage Intacct
• Oracle NetSuite
• Microsoft Dynamics Business Central
• Microsoft Dynamics GP
• How it syncs
• Things to know

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How it works

• When you create a bill in Bill.com in a currency other than US Dollars, it will sync to QuickBooks Online, QuickBooks Desktop, Oracle NetSuite, Xero, and Sage Intacct
  • For QuickBooks Online, QuickBooks Desktop, Oracle NetSuite, and Sage Intacct, if multi-currency is off in your accounting software, transactions will sync in US dollars, based on the current exchange rate
• When a payment is applied to the foreign currency bill in Bill.com, the payment will sync to QuickBooks Online, QuickBooks Desktop, Oracle NetSuite, Xero, and Sage Intacct
  • If multi-currency is off in your accounting software, the payment will sync in US dollars, based on the original bill's exchange rate
• If multi-currency is off in your accounting software, foreign currency vendors and bills must be created and edited in Bill.com only
• Because the exchange rate will likely differ between the time of the bill creation/sync and the payment, a new sync preference will be required, called "Exchange rate gain/loss account" for syncing bills in foreign currency. This will be the GL account to which any variance due to differing exchange rates will sync. Accepted account types: Expense, Other Expense.
  

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QuickBooks Online

Multi-currency enabled in QuickBooks Online

• Vendors: Your multi-currency vendors will sync between Bill.com and QuickBooks Online with each vendor's selected currency

• Transactions: Your multi-currency transactions will sync between Bill.com and QuickBooks Online in each vendor's selected currency
  

Multi-currency not enabled in QuickBooks Online

• Vendors: Your multi-currency vendors in Bill.com will sync to QuickBooks Online as USD vendors. These vendors must be created and edited in Bill.com only, to avoid sync errors.

• Transactions: Your multi-currency transactions in Bill.com will sync to QuickBooks Online in USD, based on the current exchange rate. Bills and payments must be created and edited in Bill.com only, to avoid sync errors.
  

Note: If you do not enable Multi-Currency in QuickBooks Online, bills and payments will sync from Bill.com in USD, and a new "Exchange rate gain/loss account" sync preference is required to account for differences in exchange rate on the date of the bill and the date of the payment.

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QuickBooks Desktop

Multi-currency enabled in QuickBooks Desktop

• Vendors: Your multi-currency vendors will sync between Bill.com and QuickBooks Desktop with each vendor's selected currency

• Transactions: Your multi-currency transactions will sync between Bill.com and QuickBooks Desktop in each vendor's selected currency
  

Multi-currency not enabled in QuickBooks Desktop

• Vendors: Your multi-currency vendors in Bill.com will sync to QuickBooks Desktop as USD vendors. These vendors must be created and edited in Bill.com only, to avoid sync errors.

• Transactions: Your multi-currency transactions in Bill.com will sync to QuickBooks Desktop in USD, based on the current exchange rate. To make sure bills sync with the correct amount conversion, and to avoid sync errors:

  • Create and edit bills and payments in Bill.com only
  • Make sure you set the "Exchange rate gain/loss account" sync preference before you create and sync a multi-currency bill
  • If the vendor is new and does not exist in QuickBooks Desktop yet, create the vendor, sync, and then create a new multi-currency bill
  • If you want to pay the bill immediately after you create it, first create the bill, sync, then schedule payment

Notes:

• If you do not enable Multi-Currency in QuickBooks Desktop, bills and payments will sync from Bill.com in USD, and a new "Exchange rate gain/loss account" sync preference is required to account for differences in exchange rate on the date of the bill and the date of the payment
  • Important: Partial payments on international bills in Bill.com will not create an exchange rate gain/loss journal entry to QuickBooks Desktop. You will need to manually create the journal entry in QuickBooks Desktop for any gains/losses due to changing exchange rates for partial payments.
• If you have multi-currency enabled in QuickBooks Desktop, USD must be your base currency or transaction will not sync
• To use our Multi-Currency feature, make sure to upgrade your sync dashboard to the latest version. If the sync dashboard is not upgraded, foreign currency vendors & bills will sync to QuickBooks Desktop 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 QuickBooks Desktop sync dashboard (~979 KB)
    

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Xero

Multi-currency enabled in Xero

• Vendors: Your multi-currency vendors will sync between Bill.com and Xero with each vendor's selected currency

• Transactions: Your multi-currency transactions will sync between Bill.com and Xero in each vendor's selected currency

Note: Xero enables multi-currency by default, so this is the only way these transactions will sync.

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Sage Intacct

Multi-currency enabled in Sage Intacct

• Vendors: Your multi-currency vendors will sync between Bill.com and Sage Intacct with each vendor's selected currency

• Transactions: Your multi-currency transactions will sync between Bill.com and Sage Intacct in each vendor's selected currency.
  

Multi-currency not enabled in Sage Intacct

• Vendors: Your multi-currency vendors in Bill.com will sync to Sage Intacct as USD vendors. These vendors must be created and edited in Bill.com only, to avoid sync errors.

• Transactions: Your multi-currency transactions in Bill.com will sync to Sage Intacct in USD, based on the current exchange rate. Bills and payments must be created and edited in Bill.com only, to avoid sync errors.
  

Notes:

• If you do not enable Multi-Currency in Sage Intacct, bills and payments will sync from Bill.com in USD, and a new "Exchange rate gain/loss account" sync preference is required to account for differences in exchange rate on the date of the bill and the date of the payment.
  • If you use multiple different locations and/or departments on your line items, the gains/losses per line item sync to each department/location as well as the expense accounts
• Multi Currency Vendor Credits will sync, however the application of the credit won't sync. You'll need to manually apply the vendor credit in both Intacct and Bill.com.
• If you have multi-currency enabled in Sage Intacct, payment for a foreign currency bill will cause a sync error because Sage Intacct does not accept future process dates for payments to non-USD bills
  • The payment will sync to Sage Intacct and the sync error will clear itself upon the first sync on or after the payment process date
    

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Oracle NetSuite

Multi-currency enabled in Oracle NetSuite

• Vendors: Your multi-currency vendors will sync between Bill.com and Oracle NetSuite with each vendor's selected currency

• Transactions: Your multi-currency transactions will sync between Bill.com and Oracle NetSuite in each vendor's selected currency. Bills and payments must be created and edited in Bill.com only, to avoid sync errors.

Note: The foreign currency must be manually created within Oracle NetSuite. If the foreign currency does not already exist within Oracle NetSuite, you will encounter a sync error when a foreign currency object attempts to sync over to Oracle NetSuite.

Multi-currency not enabled in Oracle NetSuite

• Vendors: Your multi-currency vendors in Bill.com will sync to Oracle NetSuite as USD vendors. These vendors must be created and edited in Bill.com only, to avoid sync errors.

• Transactions: Your multi-currency transactions in Bill.com will sync to Oracle NetSuite in USD, based on the current exchange rate
  

Notes:

• If you do not enable Multi-Currency in Oracle NetSuite, bills and payments will sync from Bill.com in USD, and a new "Exchange rate gain/loss account" sync preference is required to account for differences in exchange rate on the date of the bill and the date of the payment.
  • If you use multiple different locations and/or departments on your line items, the gains/losses per line item sync to each department/location as well as the expense accounts
    

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Microsoft Dynamics Business Central

Multi-currency transactions currently don't sync between Bill.com and Microsoft Dynamics Business Central. You'll need to enter any multi-currency transactions manually in both Bill.com and Microsoft Dynamics Business Central separately.

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Microsoft Dynamics GP

Multi-currency transactions currently sync between Bill.com and Microsoft Dynamics GP. If you use multicurrency in Microsoft Dynamics GP (MSDGP), you'll need to do the following for those transactions to sync with Bill.com:

1. Select Setup in MSDGP
2. Select Financial
3. Select Multi-currency
4. Select Use rates without adding to table
5. Select Save

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How it syncs

Here are some examples on how the bills, payments and funds transfers will sync if the exchange rate (FX) changes between the time of the bill sync and the payment sync, using the Exchange rate gain/loss account.

Note: If you sync with Oracle NetSuite or Sage Intacct and you use multiple different locations and/or departments on your line items, the gains/losses per line item sync to each department/location as well as the expense accounts.

For QuickBooks Online and QuickBooks Desktop, the gains/losses sync to the single location and/or department selected on the bill, as well as the expense accounts.

• If the exchange rate (FX) decreases:

A bill of 100 Euros is created when the exchange rate (FX) is 1.2, resulting in a $120 USD bill in QuickBooks Online, QuickBooks Desktop, and Sage Intacct. At the time of payment, the FX rate has decreased to 1.0, resulting in a $100 payment:

Transaction Type	Expense Account(s)	Accounts Payable GL Account	Money Out Clearing GL Account	Bank Account GL Account	FX rate gain/loss GL Account
Bill	$120 debit entry	$120 credit entry	-	-	-
Payment	-	$120 debit entry	$120 credit entry	-	-
Funds Transfer	-	-	$100 debit entry	$100 credit entry	-
FX rate gain/loss	-	-	$20 debit entry	-	$20 credit entry

• FX at time of payment is 1.0, so a $100 USD payment is created in Bill.com, but a $120 payment syncs to QuickBooks Online, QuickBooks Desktop, and Sage Intacct, due to the bill’s original FX rate

• Funds Transfer is only $100 as that is the actual true amount of money moved

• Net difference (gain) of $20 due to decreased exchange rate is accounted for in the FX rate gain/loss GL
  

• If the exchange rate (FX) increases:

A bill of 100 Euros is created when the exchange rate (FX) is 1.2, resulting in a $120 USD bill in QuickBooks Online, QuickBooks Desktop, Oracle NetSuite, and Sage Intacct. At the time of payment, the FX rate has increased to 1.5, resulting in a $150 payment:

Transaction Type	Expense Account(s)	Accounts Payable GL Account	Money Out Clearing GL Account	Bank Account GL Account	FX rate gain/loss GL Account
Bill	$120 debit entry	$120 credit entry	-	-	-
Payment	-	$120 debit entry	$120 credit entry	-	-
Funds Transfer	-	-	$150 debit entry	$150 credit entry	-
FX rate gain/loss	-	-	$30 credit entry	-	$30 debit entry

• FX at time of payment is 1.5, so a $150 USD payment is created in Bill.com, but a $120 payment syncs to QuickBooks Online, QuickBooks Desktop, Oracle NetSuite, and Sage Intacct, due to the bill’s original FX rate
• Funds Transfer is $150 as that is the actual true amount of money moved
• Net difference (loss) of $30 due to increased exchange rate is accounted for in the FX rate gain/loss GL
  

After all of the entries above, you can see that the AP account entries balance with each other, as well as the entries to the money out clearing account.

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Things to Know

• Vendor credits created in a foreign currency in Bill.com will not sync to your accounting system at all if multi-currency is not enabled
• Multi-Currency should automatically be enabled in Bill.com. If you do not see the feature, please contact Customer Support
• Some accounts may not be setup for 2-way sync for vendors and bills, depending on the sync setup; please contact Customer Support if it is not syncing as expected
• A separate AP ledger will be needed for each type of currency used
  • Depending on the accounting software, this may happen automatically
• 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
• 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 of your software version, Bill.com Customer Support won't be able to assist with the feature settings there