Yuki Foreign currency

Trading with currencies other than the euro immediately makes an administration a bit more complex. The occasional receipt from a cab in dollars is still doable, but regularly sending sales invoices in another currency or having a bank account in, say, English pounds (GBP) places other demands on the software. That's why Yuki developed the Foreign currency feature.

If your company works with currencies other than the Euro, activating this feature in the Yuki Store is mandatory. This extends the software in several places with functionality needed to record and process transactions in both the original currency and the Euro. However, the basic accounting remains in Euros.

Yuki Foreign currency is only available when a user with the 'Portal Administrator' role (accountant) has added this feature to the domain's contract. 

For a detailed description of this, see article Manage accountant features.

Yuki Foreign currency is integrated into the Bank, Sales, and Purchase functionality. 

By default, the currencies EUR, USD, and GBP are set as 'Active' in every Yuki domain. You can activate other currencies via Currencies in domain settings.

The functionality is extended in the following places in your administration in Yuki:

• General:
  • Overviews with additional currency information
    In your personal preferences in the domain, the default is that currency symbols can be shown in a number of overviews. These currency symbols are in the column 'Invoice amount V.V.' which you can add to a statement if you wish.
• Bank:
  • Create bank accounts in foreign currency
    The opening balance of a foreign currency account can be entered either in the foreign currency or in Euros. When creating a bank account from another country, you must select the appropriate country.
  • Import foreign currency bank account statements
    The supported export format of a foreign currency account is the same as the other accounts opened at the respective bank.
  • Write off currency differences
    When processing bank transactions (workflow), 'Exchange differences' can be debited.
• Sales:
  • Format sales invoices in foreign currency
    The placeholders [TotalAmountFC] and [Currency] can be used to specify foreign currency in the email used to send the sales invoice.
  • Work with price lists in foreign currency
    When creating additional price list(s), select the appropriate currency.
  • Submit scanned sales invoices in foreign currency.
• Purchase:
  • Automatically assign daily rates
    Yuki automatically retrieves these daily rates via the link with Open Exchange Rates (openexchangerates.org).
    If you want to use a different rate, you can use the 'Invoice actions' function to book the purchase invoice with a different rate to be entered by yourself.

In addition, it is possible to revalue the balance of a foreign currency account or an outstanding invoice in foreign currency in Yuki.

Even without Yuki Foreign currency, it remains possible to submit occasional purchase invoices or receipts in foreign currency. These will then be converted by Yuki and further treated as Euro documents. If you only have occasional sales invoices, please convert the relevant amounts, such as the invoice amount, to Euros yourself and state this on the invoice. Yuki will then treat that invoice as if it were a Euro invoice.