Multi-currency functionality

I'm just evaluating Reckon One at the moment, might not be able to go with it for my business as I use Wise and I can't get feeds from them at all in Reckon, but multi-currency would also be a very nice to have feature. I had few enough transactions in other currencies that I was OK doing this manually in Xero instead of paying for their much more expensive tier (I'd make a manual invoice in the foreign currency, create a corresponding AUD invoice in Xero with the currency value at today's rate, and then reconcile it with a gain or loss adjustment when I'd convert it back to AUD and it landed in my AUD account). So this one isn't a deal breaker (like Wise feed support is for me unfortunately) but would be very nice.

We have to run an International World Championship in 2023 and beacuase the Sport HQ is in France, all international competitors and visitors have to pay in Euros. We have a Foreign Currency Euro Account as we dont want every transaction converted to Australian Dollars or we lose on Exchange rates and fees.

Hi Mike. I think we can manage this in a template designer. We have designed a new invoicing interface as part of our evolution project, and work should start later next year after STP phase 2 is released. The plan is to completely also re-do our template designer, and as part of that let's see if we can incorporate your suggestion.

If getting full multi-currency support is a complicated tasks, as an initial step it would be possible to at least have the ability to issue invoices in a different currency? When payment is received (... for a foreign currency invoice) we'll need to have the ability to enter the received amount in local currency.

While this is rudimentary, it's at least a starting point. Thanks.

Getting multi-currency bank accounts and foreign currency payment settlements has become much easier in the last few years. I think R1 needs at some stage to add support for multiple currencies throughout the product.

Hi, just wanted to throw my vote in for this too. I have clients all over the world and it would be great to be able to invoice them in their own currencies.

Hi Mike. We just haven't had enough users who want this feature to be honest. It's also around 4-6 months of development work, so we want to make sure there will be take-up after it is built. That said, we are starting on inventory late next year, and MC is key to that strategy, so whilst it's a way off, it is in our mid-term plans.

Hi Reckon, any update on this idea?

Nowadays it's quite common for people to transact in multiple currencies and having foreign currency denominated bank accounts is also much more common than in the past, as almost every bank offers such accounts for free....

Hi Dylan. We have merged your idea (RKN1-I-402) with this one and added additional commentary in the description. 

I receive payments in both AUD and USD and have accounts in both currencies. Reckon needs to support this.