# How does invoice processing handle multiple currencies?
Multi-currency invoice processing manages international supplier invoices with: (1) Currency Recognition - automatically detect invoice currency from ISO codes or symbols; (2) Exchange Rate Management - integrate with real-time exchange rate services (XE, OANDA, central banks) or use manually configured rates; (3) Conversion Timing - apply exchange rates at invoice date, payment date, or custom date; (4) Base Currency Posting - convert amounts to company base currency for accounting; (5) Dual Display - show both original and converted amounts; (6) Payment Handling - support payments in original currency or converted amount. Key considerations: exchange rate sources and update frequency, rate variance thresholds, reporting in both currencies, revaluation for open invoices, and compliance with accounting standards (ASC 830, IAS 21). Integration with ERP systems ensures consistent currency handling across procurement, AP, and financial reporting. Benefits include simplified global supplier management and accurate financial consolidation.
## Key Takeaways
- Multi-currency invoice processing manages international supplier invoices with: (1) Currency Recognition - automatically detect invoice currency from ISO codes or symbols; (2) Exchange Rate Management - integrate with real-time exchange rate services (XE, OANDA, central banks) or use manually configured rates; (3) Conversion Timing - apply exchange rates at invoice date, payment date, or custom date; (4) Base Currency Posting - convert amounts to company base currency for accounting; (5) Dual Display - show both original and converted amounts; (6) Payment Handling - support payments in original currency or converted amount.
- Key considerations: exchange rate sources and update frequency, rate variance thresholds, reporting in both currencies, revaluation for open invoices, and compliance with accounting standards (ASC 830, IAS 21).
- Integration with ERP systems ensures consistent currency handling across procurement, AP, and financial reporting.
## Related Topics
- multi-currency invoices
- foreign currency invoice
- currency conversion
- international invoicing