We have some dealings with european countries and have always raised sales invoices in sterling but have just been asked to raise the sales invoice in euros. Just wondered whether this was mandatory or whether we could say we only raise sales invoices in sterling.
you can raise your invoices in any currency you like.
Your European customers would probably prefer to be invoiced in euros since that gives them a fixed cost - if you invoice in sterling, then they have a potential currency risk if the exchange rate moves against them.
The same holds if you invoice in euros - you are not quite sure how much sterling you will get and you will incur charges to convert.
Not a problem to do it - just need to be aware of all the issues.
Hi Roz, we had the same prob where I worked but, but we dealt with a supplier they started to raise inv in euro, but we asked for the invoices to be raised in Pounds and they agreed.. (Lucky) as it made life easy...
I think u should try HMRC, I bet they will have some info on that if ur VAT registered any way, in not doesn't matter, u just raise the invoice in Euro, then they will pay u, showing the amount of the invoice and the exchange rate, attach everything together so u can relate to it if need too!!!
Hi Roz I deal with selling from the UK to mainland Europe all the time, when I first started I tried to accomodate my customers and invoiced them in Euro, but eventually as my sage doesn't raise euro invoices I got into a pickle and even lost on the exchange rate. I have a standard rule, if they purchase from the UK then they must be prepared to order in £s. I had no objections and on occassions working with them, if the exchange rate isn't in their favour, I offer free shipping if they order over a certain amount. Hope this helps
Thank you, I will endevour to invoice the customer in sterling. I know when we purchase goods from Germany we are always invoiced and pay in euros and take the exchange rate at the time of transaction so it would only seem fair that it works the other way. Plus we too work on Sage and can envisage problems if we invoice this one company in euros.
