Issuing a foreign-currency invoice
When you create an invoice, the currency picker defaults to AUD but you can choose USD, EUR, GBP, NZD, SGD, CAD, JPY, or any custom currency you have configured.
The exchange rate at the moment of issue is captured and frozen on the invoice. Your books store two figures:
- The foreign amount (what the customer pays, e.g. USD 1,000)
- The AUD equivalent (translated at the issue-date rate, e.g. AUD 1,520 at 0.658)
GST on a foreign-currency invoice is calculated in AUD against the AUD-equivalent. The invoice PDF shows both amounts side-by-side so the customer pays in the right currency without confusion.
When the customer pays
If the customer pays in their currency on a different date, the receiving bank converts at that day's rate. The AUD landing in your account will not be exactly the AUD originally booked.
OneBookPlus handles this automatically. When you reconcile the inbound payment to the invoice, the difference is posted as Realised FX Gain or Realised FX Loss: a separate P&L line outside operating revenue.
The FX revaluation report
For invoices still open at month-end or year-end, the FX Revaluation report (Reports, then Tax) shows:
- Each open foreign-currency invoice
- The AUD amount originally booked
- The AUD amount it would translate to at today's spot rate
- The unrealised gain or loss
At year-end, run the report on 30 June and click Post revaluation journal. This posts:
- Dr or Cr Accounts Receivable for the unrealised difference
- Cr or Dr Unrealised FX Gain/Loss
The journal is automatically reversed on 1 July so it does not double-count when the invoice eventually settles.
Spot rates
Live spot rates are pulled from a published provider daily and stored against the date. Historical rates are immutable, re-running the FX Revaluation report on a prior period returns the same numbers it returned the first time.
You can override a rate on any individual invoice if you have hedged or have a contractual rate. The override is recorded against the invoice and surfaces in the journal narration.
What does not get revalued
- Closed (paid) invoices, they are settled, no unrealised position.
- AUD-denominated invoices to overseas customers, these have no FX exposure.
- Foreign currency cash balances, separate handling via a foreign-currency bank account in your chart.
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