If you’re sending invoices to clients in multiple currencies or have expenses from traveling to other countries Wave Accounting can now support your needs.
We’ve signed a deal with XE.com for them to stream real time exchange rates into our app. This has allowed us to include exchange rates in the invoice, expense and payment areas. The other thing this allows us to do is include foreign exchange categories in our reports – in fact we’ve created a report strictly to give you information on all of your foreign currency transactions. We’ve also added calculations for realized and unrealized gains and losses on foreign exchange to key reports. Small businesses owners that have transactions in more than one currency can now use Wave Accounting and still have full insight into their financial position.
Finally, we’ve also added a Journal Transaction screen in business settings that allows for standard double entries for transactions that fall outside of normal income and expenses. This new screen is especially powerful when you are collaborating with your accountant so that necessary adjustments can be made easily and in a format they are accustomed to.
As always…keep your feedback coming! It’s helping us build a better app.
(This entry originally appeared in an earlier version of the Wave Accounting blog for small business.)
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