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Xero For Dummies, 2nd Edition
book

Xero For Dummies, 2nd Edition

by Rod Drury, Heather Smith
April 2015
Intermediate to advanced content levelIntermediate to advanced
408 pages
9h 51m
English
For Dummies
Content preview from Xero For Dummies, 2nd Edition

Chapter 15

Working with Multi-Currency Transactions

In This Chapter

arrow Adding currency feeds and multi-currency contacts in Xero

arrow Understanding currency exchange rates and creating a foreign currency invoice in Xero

arrow Working out conversion balances and accessing the Foreign Currency Gains and Losses report

I love freesias so I was over the moon when asked to help a client who imported this delicately perfumed flower. Due to space constraints, however, we worked next to the flower fridge (brrrr!), and I soon discovered the flowers, while still looking lovely, have minimal scent when cold. But onto the accounts. The business owner seemed to be in a good space — cash flow was positive, the bank balance was healthy and the business appeared to be booming. But those bothersome books needed updating and ‘Xero hero’ moi arrived on the scene and started tidying up the accounts for the business. We were both shocked by what was uncovered. The business actually only just broke even on what the lovely flowers were bought and sold for — all profits were actually generated from favourable currency movements during the year. In a different market environment where the currency fluctuated in an adverse ...

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Publisher Resources

ISBN: 9780730319382Purchase book