Enter transaction in different currency?
sockfight
Member Posts: 2
I frequently have expenses/income in a different currency from my primary business currency. Is it possible to select a different currency when entering an expense/income transaction? I thought this was a feature of Wave but have been unable to find a way to do it. Any advice? Thank you.
1
Comments
Hi @sockfight. This isn't possible in Wave at this time. We have very limited multi-currency support, but we are working on improving that with a host of different features in the near future. I can't give you a timeline, but I can tell you that our engineers are working tirelessly to bring this to you as soon as they can.
Thank you for the response. I hope those features will be available soon because Wave otherwise fits my needs perfectly!
I am pretty sure I could add transaction "add income" in any currency until a few months ago redesign, I could do it without the need to make an invoice connected to the transaction.
Let me elaborate, I receive monthly royalties and I record them as income but there's no invoice for them, I used to just add the income manually in $ on my £ account, and the conversion always worked well.
Did you change it now?
Tax year will end tomorrow and I'd like to know if I have to look at better solutions, I cannot make an invoice for each microtransaction!
Hey @carodani - you should still be able to do this! The currency will be determined by the account it's allocated to, so regardless of whether it's an expense or income, you will have too choose the $ or £ to assign the transaction that currency. If you then convert it into another currency, you can transfer that transaction to an account in another currency. Also I think it's worth mentioning that you can now add a customer to an income transaction, so if you're getting small transactions you don't want to invoice for, when editing the transaction you can essentially still link it to the corresponding customer so it shows on your reports.