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Overview

Many countries require that invoices issued in foreign currencies include an exchange rate to the national currency, and they even specify which source to use for the exchange rate. For example, when a Spanish company issues an invoice in Dollars, it must use the rate of the European Central Bank to convert the values to Euros, before reporting it to the Spanish tax authority. This workflow step will help you use the correct exchange rate.

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How to Use

  1. Start by creating an invoice and include the exchange_rates field, specifying the currencies you want to convert from and to.
  2. Add the Update Exchange Rates step to your workflow-no extra setup required.
  3. Trigger the workflow as you normally would.
  4. The step will automatically update the exchange rates when the workflow runs.

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Example

Imagine you created an invoice in USD and you need to convert it to EUR for reporting purposes. At first, the invoice might not have any exchange rates amount field or just a placeholder, like this:

{
    "$schema": "https://gobl.org/draft-0/bill/invoice",
    "$regime": "ES",
    "uuid": "019006f8-67cc-7000-99ce-40969ed20a9e",
    "type": "standard",
    "code": "",
    "issue_date": "2022-04-29",
    "currency": "USD",
    "exchange_rates": [
        {
            "from": "USD",
            "to": "EUR"
        }
    ],
    ...
}

Once the Update Exchange Rates step is run, the invoice will be updated with the actual exchange rate:

{
    "$schema": "https://gobl.org/draft-0/bill/invoice",
    "$regime": "ES",
    "uuid": "019006f8-67cc-7000-99ce-40969ed20a9e",
    "type": "standard",
    "code": "",
    "issue_date": "2022-04-29",
    "currency": "USD",
    "exchange_rates": [
        {
            "from": "USD",
            "to": "EUR",
            "at": "2022-04-29T00:00:00",
            "amount": "0.94877"
        }
    ],
    ...
}

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FAQ

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Support

We’re always working to improve our features! If you’d like us to add support for more banks for specific currencies or need any help, feel free to contact us at (support).

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Additional Resources