Order in the supplier's currency
A PO to an overseas supplier is priced, printed and emailed in their currency, with an exchange rate that turns it into the AUD cost your stock is received at.
Where it is
- Purchasing → Suppliers — Set the supplier's Currency with Edit.
Settings for this
- Settings → Currencies — Which currencies you use, a bank margin on live rates, and fixed rates that override the feed.
- On the supplier, click Edit and set Currency (USD, NZD, GBP, EUR). See Add a supplier.
- New POs to that supplier are raised in that currency. Today's rate is captured as the order is created. A fixed rate from Settings → Currencies wins over the live feed.
- The Currency & exchange rate card on the PO shows the rate and the order total in AUD. Refresh it or type the rate your bank quoted any time until stock is received.
- Enter line costs in the order currency. A product with its own foreign cost uses that; otherwise its AUD cost is converted at the order rate.
What changes on a foreign order
- No GST line: import GST is paid at the border and claimed back, so it is not on the supplier's invoice.
- Receiving costs stock at the AUD equivalent (cost × rate), so average cost and margins stay in dollars.
- Xero bills go across in the order currency with the rate attached. Your Xero organisation needs that currency switched on.
- Freight, duty and charges on top: put the order on an import shipment. See Landed cost.