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Revenue accounting

Multi-currency billing

Pricing, invoicing and settling in a customer local currency while reporting in one currency at the group level.

Multi-currency billing means the customer sees a price in their own currency, is invoiced in it, and pays in it, while the business reports in one.

The decisions are where the rate is fixed and what happens when it moves. Prices set per currency give predictable local pricing and drift from each other as rates change; prices converted at billing time track the rate and make a customer’s invoice vary month to month for no reason they can see.

Whichever you choose, the rate used for each invoice must be stored on that invoice. Recomputing historical invoices at today’s rate makes past periods irreproducible, which breaks reconciliation and any audit that depends on it.

Related terms

  • Multi-entity billing Billing from more than one legal entity, each with its own books, tax registration and invoice numbering, consolidated into one group view.
  • Reconciliation Matching what you invoiced to what you were paid to what landed in the bank, and explaining every difference.
  • Revenue recognition Determining when revenue is earned rather than when it was invoiced or paid.