The business has many small and big expenses that are taken care of on a regular basis. But how about streamlining them and recording all of these expenses? You can use this data to optimize your expenditures or just to monitor the petty expenses that forms a big part of your budget. It is a feature that is often ignored but can make a good business great if managed well.
In Settings, you will see an option for âCurrencyâ in the system. Assign Multiple Currency for invoicing and accounts. This lets you add not only a currency but also an exchange rate. The rate can be updated to actual at a frequency that is convenient to the business and suited to the business needs. You can then use this currency when dealing with vendors and customers from abroad. Add foreign customers and vendors with their specific currency, add foreign bank accounts and ledgers and create foreign transactions for your import and export through the use of this well thought of feature.