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International KashFlow User Setup

Your KashFlow account can be configured for US/international taxes and currency by default, it just takes a few minutes

CHANGE COMPANY DETAILS

Via Settings > Company Details > Home Currency

  1. Set your default currency to your local currency
  2. Change the date format to mm/dd/yyyy if required
  3. Telephone numbers can be entered in any format you wish
  4. The postcode box can be used for your zip code/region code

TAXES

  1. You can rename your Tax via Settings > VAT Settings > Change the Tax name to Sales Tax > Update. Then ensure your Sales Tax information is stored by clicking ‘Sales Tax registered.’
  2. Reporting. If you have changed your default tax rate to Sales Tax, then you can run the Sales Tax management report for full information on your liability (via Reports > General Reports > VAT Management and Reports). However you cannot online-file as this function was created to work with the HMRC – the UK VAT system.

SUBSCRIPTION

If your company is based outside the EC, please contact support@kashflow.com and we can remove the VAT cost from your monthly subscription fee. Please include your full address in the email.

CONFIGURE YOUR ACCOUNT TO HANDLE BOTH US AND UK DATA SIMULTANEOUSLY

SET UP A FOREIGN CURRENCY

Settings > Currencies > Click “Add currency” in the top right.

Then when you raise an invoice you can select the currency you want to use.

MULTI-CURRENCY BANK ACCOUNTS

In KashFlow you can raise quotes/invoices/receipts in foreign/multiple currencies however KashFlow does not currently support multi-currency bank accounts.

LOSS/GAIN ON FOREIGN CURRENCIES

This will definitely come in handy! If you raise an invoice for $100 and your customer pays in £’s 10 days later, there will be a currency fluctuation. To remedy this, Open the invoice > Payments > enter the payment for $100 > a new button will appear “Settle Invoice’ Click this button and KashFlow will raise a new invoice to the Sales code “Forex Gain/Loss” and automatically enter a description that references the invoice for $100.

See how KashFlow works with your business and your books