Can taxomate convert a foreign marketplace currency to my home currency?

By Michael Schwartz

Updated 14 days ago

All settlements are imported into taxomate and sent to QuickBooks or Xero in the currency of the country marketplace. For instance, if you are selling in the UK the settlement will be sent to QuickBooks/Xero in £ (GDP). While all settlements from the German marketplace will be sent in €(EUR).

The conversion takes place in QuickBooks or Xero.

A. Xero Accounting 

Please note: To use multicurrency in Xero you must have an Established/Business Edition Pricing Plan.

  1. Click on your organization's name, select Settings, then click Currencies.
  2. Click Add Currency.
  3. Select a currency.
  4. Click Add Currency.

    Image showing the currency screen

  5. From the currency dropdown in the imported sales invoice (from taxomate), select the currency you want.  

    Image of selecting a currency from the currency dropdown     
  6. (Optional) Edit the exchange rate.
  7. (Optional) Adjust each item’s unit price and tax rate (if applicable) to apply to the selected currency.
  8. Enable multicurrency option in taxomate to complete the process.

B. QuickBooks Online

Multicurrency tutorial for QuickBooks Online coming soon!

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