Yuki Foreign currency

As soon as your company starts dealing with regular sales invoices in a different currency or a foreign bank account (such as in USD or GBP), standard bookkeeping in euros is no longer sufficient. With the Yuki Foreign Currency feature, you can easily process transactions in both the original currency and in euros. The basis of your bookkeeping always remains in euros.

Yuki Foreign Currency is only available in your domain if your accountant has added this feature to the domain’s contract.  

If your business operates with currencies other than the euro, activating this feature in the Yuki Store is required.

Occasional receipts?

Do you only occasionally receive foreign purchase invoices or receipts? Then you don’t need this feature. Yuki automatically converts these to euros. For an occasional sales invoice, convert the amount to euros yourself and indicate this on the invoice.

In each domain, EUR, USD, and GBP are set to “Active” by default. You can activate other currencies yourself via the domain’s Settings under Currencies.

What’s changing in Yuki?

Once activated, functionality will be expanded in the following areas of your administration:

• General & Reports
  • Show currency symbols: In your personal preferences, you can set currency symbols to be shown in reports.
  • Additional columns: You can manually add the “Invoice Amount (Foreign Currency)” (Foreign Currency) to your reports to view the original amounts.
• Bank
  • Foreign currency accounts: You can create bank accounts in a different currency. You can enter the opening balance in either the foreign currency or in euros. Be sure to select the correct country when creating the account.
  • Import statements: The import format for statements is the same as that for your euro accounts at that specific bank.
  • Exchange rate differences: While processing bank transactions in the workflow, you can immediately post any differences to GL account 'Exchange rate differences'.
• Sales
  • Create invoices: You can create sales invoices in foreign currencies.
  • Email placeholders: Use the placeholders [TotalAmountFC] (Total Amount in Foreign Currency) and [Currency] in your email templates to send the correct currency information to the customer.
  • Price lists: You can create additional price lists and select the desired currency for each.
  • Upload scanned sales invoices in foreign currencies.
• Purchase
  • Automatic daily exchange rates: Yuki automatically retrieves the current exchange rates daily via Open Exchange Rates.
  • Manually change the exchange rate: Do you want to use a different exchange rate for a specific purchase invoice? If so, adjust it while posting the transaction using the 'Invoice action' feature.

Revaluation

In Yuki, you can always revalue the current balance of a foreign currency bank account or an outstanding invoice in a foreign currency using the latest exchange rate.