Xero works beautifully with foreign currency, but you will need some training to learn how to use this feature in Xero.
We work with new ecommerce businesses on a weekly basis. During the set up stage, many of our ecommerce businesses make their first purchases overseas and import product into Australia. This video covers how to enter a foreign currency invoice, from an overseas supplier into Xero, and how to match that foreign currency invoice with a payment that comes out of an Australian (AUD) bank account.
In addition, we workflow how to record interim deposits that are made to suppliers prior to receipt of the final invoice. This is a very common request from Chinese Suppliers who invoice in United States Dollars (USD).
We hope you enjoy the video! If you would like to arrange personalized Xero and ecommerce training, please do get in touch with us to book an appointment.