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I’m
confused
Issue with linking expenses to a project.
When adding a new expense, under "Is this a project expense", I see only one active project in the dropdown box, when I have 4 active projects.
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Hello Sid,
Are your other projects in foreign currencies at all, please?
If they are, then you won't be able to link expenses to them because FreeAgent can't deal with expenses in different currencies.
Kind regards,
Emily-
aramos August 30, 2010 12:02Hi Emily, thanks again for your help, but I really would like to emphasize this is a "dream feature". If FreeAgent could manage this conversions automatically in the same way it does for invoices/payments, that would be wonderful, it's something really difficult to track by hand. Cheers.EditDeleteRemove
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Emily (Official Rep) August 30, 2010 12:22Noted. Thanks very much.EditDeleteRemove
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I’m
anxious
Will it ever be possible for FreeAgent to track expenses for foreign clients/projects? This is pretty important for my business!-
This is really important for my company as well. Since FreeAgent tracks payments in multiple currencies I really don't understand why it's not able to track expenses in multiple currencies...
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I’m
frustrated
The fact that Freeagent allos you to set up a project in foreign currency but then not add expenses to it is bizarre. Its also a real pain. We have some client that work in USD and we can invoice them easily in USD but not add expenses to the project. This is strange and frustrating,
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Hi Stefan, there are some significant complications with adding expenses (which may have been incurred in one currency) to another foreign currency invoice, via a project. Which is why it's not possible to add an expense to a foreign currency project.
This is something we'll probably look to address in the future, but it's not on our immediate roadmap. -
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I really don't see the problem with this, and IMO being designed for freelancers this should be of top priority, we deal with different currencies on a daily basis both expenses, paypal and invoicing you can't just do one of them well and ignore the masses requesting the rest!
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I’m
frustrated
Is it possible to receive some feedback from the FreeAgent folks? I need to find an alternative way to solve this issue, but it would be a great help to have some perspective on when/if this problem will be solved before coming up with a cumbersome and time consuming alternative (at least in my case).
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What I really need to do is to control project costs, so my key priority is to link expenses to projects no matter what. It seems I'll have to chose a standard currency and convert everything to that currency in order to do that, right?
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Hi there,
Yes, that would probably be the best way for now.
Kind regards,
Emily -
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I’m
sad
Hi,
Just started test-driving FreeAgent and I stumbled upon this problem quite quickly. This is a real problem for my business. I hope there's a solution for this soon. -
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I’m
concerns that this could end up with a lot of admin
O no, so this means I have to issue a invoice for work done in Euros for my Dublin client (Invoiced in Euros was his direct request), but then my expenses for travel have to appear on another invoice because I paid for my flights in UK Pounds? - Can you please confirm. Regard, Jason
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Hi Jason,
What is your base currency, please - Euros or £ sterling?
Kind regards,
Emily -
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yes, still a pain point. I have had to move to billing client in UK Sterling which he is not happy about. -
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I’m
feeling a little better in that I have a workaround
Base Currency in £ sterling and until this month I have been billing in it. The client asked me last month could I switch to €. This month I've had to produce two invoices one in Euros for Time charged and one in £ stirling for the Expenses (flights and such which were incurred in uk) I've converted the Irish hotels from € to £. Bit convoluted but at least I can get the invoice out the door. I've a number of Irish accounts but if I wish to use € then I need two projects (one for time, the other for expenses) -
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I’m
frustrated
I'm having this problem too. I'm a UK consultancy that does some work with US clients. They obviously want billing in USD, which is fine as long as I don't claim any expenses.
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I’m
kind of frustrated
come on guys... we just got this beautiful software but just now realized we cant bill expenses on currencies other that the local currency? any estimate time frame to solve this?
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Together with the fact we cannot associate a project to multiple contacts, this is our most desired feature. The amount of human work this feature would save is absolutely massive.
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I’m
disappointed
This is something that would close the loop for me on deciding to sign up for FreeAgent. I am currently in a trial period and have been very impressed so far. However, not being able to link expenses to a project that is in a foreign currency could be a dealbreaker for me. My largest clients are US-based but I am a rep for them in the EU and so need to be able to track and invoice my expenses (in Euro and Sterling) to them (in USD). Is there any timeframe on when this might be possible to do?
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Ronan, have you found an alternative?
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This is a huge issue for me and my company, where we have to work out staff bonuses based on profit on each project, and 90% of our work is overseas. PLEASE find a way to add expenses, even if they're not for rebilling, as an indicative indication of profitability. SUPER, SUPER urgent, guys. -
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I’m
frustrated
A huge issue for me too - I hope that Freeagent can give this problem the respect it deserves instead of continuing to ignore it. -
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I’m
frustrated
This would be a major issue for us too and is a potential deal breaker in signing up to FreeAgent
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I’m
shocked
We have just started to use Freeagent and are shocked to find that we can set up a Contact, create a Project, Invoice customers in GBP, EUR and USD but when we try and enter a foreign currency expense (even when we convert the Bill to our home currency GBP) that it cannot be linked to a Project invoiced in EUR and USD.
Our international customers are large corporates so we have to invoice them in their currency and cannot use the 'bill 'em all in GBP' approach which some users have been able to do as a workaround.
This means a major feature of Freeagent - Projects is only useful for home currency projects. This really is not joined up thinking and feels misleading particularly when the screens show Projects in the invoiced currency.
Am concerned to see Multi-Currency has been in discussion for 4 years so are we a) missing something that is on the imminent horizon or b) need to abandon Freeagent and find another solution that can support multiple currencies?-
If you find a good alternative, please post the result here. After four years it's clear that FA just aren't going to (or can't) do this.
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I've created 'Expense accounts' projects for foreign currency projects, with the same name but adding the words "expense account" so that we can track costs in relation to projects (in £s) and then invoice appropriately or, in our case, calculate profits and bonuses correctly. A workaround of sorts.
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There are many workarounds, including typing it into a spreadsheet and attaching that to a summary expense. But isn't this what FA what supposed to abolish?
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EMPLOYEE
