Currency

ERPNext supports multi-currency from day one — sales invoices in foreign currency, purchases from non-EUR suppliers, exchange rate fluctuations.

Default Currency

Set on the Company record. For Dutch businesses, EUR. This is your reporting currency — Balance Sheet and P&L are always in EUR regardless of transaction currency.

Adding additional currencies

ERPNext ships with all major currencies enabled. To see what's enabled:

Currency → list

If you sell to USA, GBP-area, or other currencies and they're not enabled:

Open the Currency record (USD, GBP, etc.)
Set Enabled = Yes
Save

Exchange rates

ERPNext stores Currency Exchange Rates as records — each combination of From Currency / To Currency / Date.

You can:

Manual entries — Currency Exchange → New, set rate per date
Daily auto-fetch — ERPNext can fetch exchange rates daily from an API (configure in Accounts Settings → Allow Stale Exchange Rates)

For most NL businesses, the rate on the invoice date is what matters; ERPNext fetches automatically when you create an invoice in a foreign currency.

Multi-currency transactions

When you create a Sales Invoice in USD for a USD customer:

Invoice itself is in USD
Exchange Rate auto-fills (rate on Posting Date)
ERPNext posts the General Ledger entry in both the transaction currency (USD) and your reporting currency (EUR)
Your Receivable shows in USD; Balance Sheet shows EUR equivalent

When the customer pays in USD:

Payment Entry in USD
Exchange Rate at payment date (often different from invoice date)
Difference posts to Exchange Rate Gain/Loss account automatically

This is normal accounting — exchange rate fluctuations create small gains and losses that net out over time.

Currency on Customer / Supplier records

Default Currency on the Customer/Supplier — transactions default to this
Default Price List can be in their currency — items priced in USD for US customers, EUR for NL

Currency in reports

P&L and Balance Sheet show in Company default currency (EUR) — everything converted at posting-date exchange rates. For a customer-specific view in their currency, use the General Ledger report filtered by customer, with "Show in Account Currency" enabled.

Exchange Rate Revaluation

For accurate period-end reporting, you may want to revalue foreign-currency balances (receivables, payables, foreign bank accounts) at the period-end exchange rate.

ERPNext supports this via Exchange Rate Revaluation:

Run at month-end / quarter-end
Picks all open foreign-currency receivables/payables
Generates a Journal Entry to gain/loss accounts reflecting the rate difference between original posting and period-end

Common situations

First invoice in a new currency — enable the Currency, create or accept the auto-fetched Exchange Rate, post the invoice
Customer always pays in USD even though invoice is EUR — invoice them in their currency (USD), set the Customer's Default Currency = USD
Forgot to set exchange rate — ERPNext warns; correct on the invoice or Payment Entry before submitting
Historical rates needed for an audit — Currency Exchange records keep every rate by date; reports can show them