---
title: "Currency"
space: "ERPNext"
url: "https://www.prilk.com/docs/erpnext/currency"
updated: "2026-05-14"
---

## 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:
1. Open the Currency record (USD, GBP, etc.)
2. Set **Enabled = Yes**
3. 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