Multi-currency invoicing for architecture, engineering and construction design businesses.
Architecture, engineering and construction design businesses based in one country often do project work in other countries. Sending invoices in your home currency doesn’t suit your overseas customers, suppliers or partners. Synergy multi-currency invoicing solves this problem by allowing you to create invoices in a foreign currency.
Synergy lets you choose fixed or variable exchange rates but doesn’t worry about exchange rate fluctuations when it comes to showing payments. This is perfect for project managers who see completed payments without worrying about exchange rates. Directors, CFOs or financial officers can handle exchange rate fluctuations in their connected accounting software.
Key benefits of using multi-currency invoicing for architecture and engineering projects:
- Send invoices in foreign currency values
- Set a fixed or variable exchange rate in Synergy
- Let your project managers see payments regardless of exchange rate
- Manage exchange rate fluctuation in connected accounting software
- Let your customers and suppliers pay in their own currency
How Synergy multi-currency invoicing helps architecture, engineering and construction design companies with international jobs manage invoices and payments in foreign currencies.
To send an invoice in a foreign currency, you first have to apply an exchange rate. Synergy lets you lock-in a fixed rate for the whole project or set a variable rate at the time of invoicing. You might find the exchange rate has changed over a 30-day payment term. Synergy doesn’t worry about that as far as the stage payments go — project managers ultimately don’t care about exchange rate fluctuations, they just need to know invoices are paid so they can get on with the job. Financial officers, accountants and CFOs need to know about exchange rate fluctuations, and they can address this in connected accounting software — Xero, QuickBooks Online and MYOB.
Read the multi-currency invoicing blog by Synergy product manager Paul Hemmings.