Invoice In Client's Currency
Generate Invoice In Client's Currency
CaseFox supports generating invoices in client's currency, if client's currency is different from your firm's standard currency. This feature is useful for firms
that cater clients in foreign countries and if these clients require invoices in their local currencies. NOTE: internal accounting will still be done in your own currency. This feature will enable to generate PDF/Word invoices only in clients' currencies.
In order to generate invoices in client's currency:
Step 1: Click on "Clients" tab and select a desired client in the list of clients on the left bar. On the right side tabbed pane, click
on "View Client/Edit" and select client's currency in the dropdown box.
Step 2: Click on "Settings/Tools/Reports" and then click on "Currency Conversion" link on the left side bar. Select the client's currency in the dropdown
and enter the conversion rate. The conversion rate can be changed at anytime. The new rate will automatically be updated in previously created invoices.
Note: At present, the payments received in client's currency will needs to be converted back to firm's standard currency manually prior to entering them in CaseFox. Your timekeeping should still be in your firm's standard currency. System will convert amounts from your currency to client's currency on invoices based on the conversion rate you set for your currency to client's currency.
Tip: Suppose your firm's standard currency is US Dollar and you have agreed to bill your UK based clients @ GBP200/hr. Assuming you set 1 USD = 0.65GBP in CaseFox. Click on "Cases(Projects)", select the case and click on "Grant Access/Rates" tab. Check the a billing staff and click on Edit link.
enter 307.69 and save (i.e., 200/.65). The invoice will then show GBP200/hr for the billed time for the selected staff.