Currencies & taxes

The currencies list controls exchange rates and which currency is the system default. Tax is simpler than it looks: it shows up on an invoice only if the customer has a tax rate assigned.

Currencies

Go to Customers > Currencies. Every currency has a Name (its code, e.g. EUR), Full name, Exchange rate, and whether it's Active and set to Auto-update. The default currency (marked "Default") always has a rate of exactly 1 — every other rate is relative to it.

Currencies — EUR is the default (rate always 1); CHF and USD float against it.

Update rates now pulls the European Central Bank's daily reference rates for every currency with Auto-update switched on; the default currency is never touched by it (it stays at rate 1).

Select New currency for a blank form — a code up to 5 characters, its full name, a starting exchange rate, and whether it's Active and Auto-update from the start:

A blank new-currency form — none of these fields carry a value until you set them.

For what editing an existing currency looks like — including why the default currency's own Exchange rate field is locked at 1 — see Tariffs & Routing → Currencies and exchange rates.

Warning

Do not change the default currency once real billing has started — everything already priced, balanced and invoiced assumes it. Changing it is only for a brand-new install, before any real data exists.

Taxes, in practice

There is no separate "tax rates" page in the current menu — tax is a rate attached to a user's account, and it's applied automatically wherever that user's money is calculated:

  • On an invoice, up to four tax lines (Tax 1–Tax 4) can appear between Net and Gross — see the invoice detail screenshot on the Invoices page. A user with no tax rate simply shows no tax line, and Net equals Gross, exactly like the demo invoice there.
  • On a manual payment, the review step (Payments) splits an amount into its Amount without tax (balance) and Tax share using the same rate.
  • On a credit note (Credit notes), the user's tax rate is captured as a snapshot at the moment it's created, so a later change to the user's tax rate doesn't rewrite an old credit note.

Check

To see tax actually appear, use a user whose account has a tax rate set — the demo account in these screenshots deliberately doesn't have one, which is exactly why its Net and Gross always match.