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Translation 3000 question about currencies
Thread poster: Daina Jauntirans

Daina Jauntirans  Identity Verified
Local time: 14:07
German to English
+ ...
Jul 31, 2004

I just got the latest evaluation copy of Translation 3000, and it looks good. I have one basic question for those of you who use it, though.

I invoice mostly in EUR, but get paid in USD - would it work to set my base currency to USD and client currency to either EUR or USD (depending on the case)? What I need to be able to see is the amount invoiced (usually in EUR) and the actual amount paid to my account (USD).

Thanks for any tips - if this works, I'm going to order the program.


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Peter Linton  Identity Verified
Local time: 20:07
Member (2002)
Swedish to English
+ ...
Base currency / client currencies Jul 31, 2004

When setting up TO3000, you define a Base currency for the whole system, and then also a range of client currencies. I get paid in a variety of currencies, and enter them as such. I can then view jobs, invoices, payments etc either unconverted in each client's individual currency, or with all values converted to the base currency (in my case EUR).

I suspect you can do what you want, and display the currencies you want, but you would find it difficult to reconcile your invoice amounts in one currency and payment amounts in another (which in any case must complicate your tax returns!). You can set up 'phantom' invoices to allow for discrepancies, but the system does assume that invoices and payments are in the same currency - makes it easy to link them together, and to see whether invoices have been paid.

[Edited at 2004-07-31 15:16]

[Edited at 2004-07-31 15:19]


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Sonja Tomaskovic  Identity Verified
Germany
Local time: 21:07
English to German
+ ...
Different currencies Jul 31, 2004

As Lars pointed out, you can define your base currency and assign each client a separate currency. All invoices are based on the client's currency, which means that you cannot change the currency on a particular invoice. However, there is an option to convert the amount from client currency into base currency, AFAIK only for on-screen view (go to invoices and choose one of the filters on top).

HTH.

Sonja


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Daina Jauntirans  Identity Verified
Local time: 14:07
German to English
+ ...
TOPIC STARTER
Thanks! Aug 2, 2004

Thanks for the information. I think I will get the program, because it seems like a good one for consolidating my record keeping. I can still keep my trusty Excel file to keep track of the USD that comes into my account. I'll just skip the T3000 reconciling feature.

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