Does Harvest support multiple currencies?
This article covers how to use multiple currencies in your Harvest account. You can set up a default currency for your account, and a preferred currency on a per-client basis.
Setting the default currency for your account
Your account’s default currency will be used for any new clients and their projects. Administrators can set the default currency for your account:
- Head to Settings (top right).
- Scroll down and select Edit preferences.
- Choose your preferred Currency, Currency format, and Number format.
- Scroll down and select Save preferences.
Setting a client-specific currency
Administrators and Managers with permission to edit clients can change an individual client’s currency from your default currency when you create or edit clients from Manage > Clients. The currency you select will then apply to all of that client’s projects.
Can Harvest convert currencies?
No, Harvest doesn't perform any currency conversions. You'll need to do any necessary conversions manually.
Can I use multiple currencies for a single client, project, or invoice?
Harvest doesn't support more than one currency per client, project, or invoice.
The project and invoice currency will be determined by the client-specific currency you've set. If no client-specific currency is set, the currency is determined by the account's default currency.
How can my team add expenses in multiple currencies?
Because currency is only set at the client or account level, there's not a way to add expenses in multiple currencies for a single client.
Team members recording expenses in a currency that's different from the client's currency will need to manually convert the amounts to the client's set currency. Using the Notes section to record the unconverted amount when entering converted expenses can be helpful to avoid any confusion here.
If your team primarily needs to track internal expenses in multiple currencies, one option would be to create two internal "clients," each with a different set currency and currency-specific name, and set up a project for each of them. That way, teammates can record expenses for the appropriate projects in the correct currency.
Can I change a specific invoice’s currency?
It is possible to invoice a client in a currency that doesn't match their specified currency. However, because Harvest doesn't perform any currency conversion, this change will only update the currency symbol on the invoice, not the values (e.g. €100 can be changed to $100 or £100).
If you'd like to change the currency for a single invoice, you can do that from the Currency dropdown when creating an invoice. The dropdown is located in the upper-right column of the invoice creation page, above your invoice line items.
Why do I see two separate $ amounts on reports?
When you see two billable amounts with the same currency symbol in your reports, it means that you have billing set up in different currencies that use the same symbol.
For example, if the default currency for your account is set to USD, but you bill a client in CAD, you'll see those amounts broken out separately in reports. Because the symbol for both USD and CAD is $, the amounts will appear to be in the same currency if your account is set to only show the currency symbol.
To avoid confusion, we recommend setting up your Currency format (found at Settings > Edit preferences) to include both the currency symbol and the ISO code. That way, for example, amounts in USD will display as $345 USD and amounts in CAD will display as $345 CAD.
How do multiple currencies affect cost rates and billable rates?
Cost rates for time entries are always in the account’s default currency, as these are used for your account's internal costs. Cost rates for expenses are always in the client-specific currency, if one is set, as the expenses are typically billed to the client.
Billable rates will be in the client’s specified currency, but Harvest won't perform any conversion. For example, if someone’s default billable rate is $50 USD in their profile, it’ll initially be set as €50 EUR in a project for a client set to use euros. Adjustments for conversions will need to be manually calculated and entered into Harvest.
How do multiple currencies affect reports?
- The Time report summary data at the top of the report will break out the different currencies for the Billable amount and Uninvoiced amount. The Billable amount on the Clients and Projects tabs will be in the client-specific currency, if one was set.
The Detailed time report export will show a Currency column for each time entry.
- The Expense report will show the currency for each expense, as determined by the related client's currency, as well as total amounts for each currency in the summary data at the top of the report.
- The Uninvoiced report will show the Uninvoiced amount in the related client's currency and totals for the uninvoiced amounts in each currency at the bottom of the page.
- The Invoice report shows a separate section for each currency used in the account.
- The Invoices > Overview graph, Total open, and Total paid amounts only reflect invoices in the account's default currency. Below the graph, you'll see the client-specific currency next to each invoice, as well as a total for all invoices in the report broken down by currency at the bottom of the page.