Features
Every currency you trade in, side by side
SwiftlyBooks keeps each document in the currency it was issued in and values it in your base currency too. Each currency has two rates a day: the rate you trade at prices your documents, and the official rate values the books and tax.
- Each document posts in its own currency, with every line's value in your base currency beside it.
- Your operating rate and the official rate for each day, with every day's rates kept.
- A quote or invoice in a currency your prices are converted into, such as ZiG beside US dollars, asks which rate: today's, the last one used for that customer, or one you type. A rate far from today's shows in amber before anyone approves it.
- Every rate used on a document kept with it, with who chose it, and listed under Rates used.
- Wallets in any currency you trade in, such as a ZiG bank account beside a US dollar one.
- Money held in another currency revalued at the month-end rate when you close the month.
- VAT kept for each currency where the tax authority asks for it, as ZIMRA does.
| Books kept in | Beside them | Official rate | |
|---|---|---|---|
| Zimbabwe | US dollars | ZiG | The Reserve Bank of Zimbabwe's |
| Zambia | Kwacha | US dollars | The Bank of Zambia's |
Common questions
Which rate does an invoice use?
The one you choose as you raise it: today's operating rate first, the last one used for that customer, or your own. An invoice made from a quote keeps the quote's rate. The books still value it at the official rate, for reports and tax. Settings can change each of these.
Do I set the rates every day?
Yes, for each currency you trade in beside your base currency: your rate and the official one. Every day's rates are kept, so each document keeps the rates of its own day.