Billings Pro Help
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# Currency usage for adding payments and retainers

We recommend that you always enter payment and/or retainer amount in the currency used by the client. Due to fluctuations with exchange rates, figuring out how much you've actually collected can a bit difficult and reports can be erroneous. Further, exchange rates can fluctuate between the time you've invoiced a client and when you receive payment. To get around these complexities, you should always enter the payment/retainer amounts in the client's currency—this makes balances in the application work right.

For report accuracy, you'll see an additional field where you can enter the "Actual" amount you've received in *your* base currency. For example, you've received 500 Euros from the client for a 500 Euro invoice. You enter the 500 Euros and the client's account is now balanced. For record keeping purposes, you can also enter the 749 Dollars that you actually received when you deposited the 500 Euros in the bank. You can edit this base currency field at any time. Billings Pro displays the "Actual" amount you've entered for payments/retainers in their receipts as well as in the account list under amount applied. If the client is using the same currency as your base currency, then the "Actual" amount field is hidden.

Note: Exchange rates keep fluctuating very frequently. The calculations rendered by Billings Pro are based on an approximate exchange rate. Your bank could be offering a different exchange rate and there could be some variations in the values.

## See also

Working with multiple currencies