Small Business Software - Susie Jackson

The best tools for invoicing in multiple currencies

[Disclaimer: This post contains affiliate links, meaning I will earn a small reward from qualifying purchases at no extra cost to you]

I often get asked to recommend invoicing tools that can handle multiple currencies. I work with lots of freelancers and small business owners all over the world who serve clients in different countries. They frequently find themselves working in more than one currency and therefore need to make sure their invoicing software is able to deal with their requirements.

If you find yourself in the same situation and you don’t have an invoicing tool yet, or if you aren’t happy with the one you’ve got, here I’ve put together a blog post with a round-up of the best tools out there.

Of course, I have my preferred invoicing tool, but the other week I put a call out to my email subscribers. I wanted to find out which tools they recommend and to see if there were any I wasn’t aware of. I received some really valuable replies and input, so in this blog post, I’m sharing some of their tips and advice too.

Why using an invoicing tool can benefit your freelance business

You might feel as though you don’t need an invoicing tool or as though it’s an unnecessary expense. But while every business is different, there are free options available for you to try to see if they could support you in your business.

I personally find invoicing software very useful, not just to create professional-looking invoices quickly and easily but also to keep on top of my finances.

An invoicing tool will give you a clear overview of the status of each invoice. That way, you always know when your invoices are due for payment as well as who has paid you and who hasn’t. When an invoice is overdue, it also enables you to automate payment reminders and late payment follow-ups. This removes some of the awkwardness of having to do it manually and also helps you avoid putting it off or not realising you have an overdue invoice until a much later date.

Having said that, invoicing software also makes it less likely that you’ll have to deal with overdue invoices. This is because your invoicing tool will integrate with online payment processors, making it much easier for some clients to pay you. If all they have to do is click a button and insert their card details, they’re far less likely to forget to log on to internet banking and send you a bank transfer later.

So, with this in mind, here are some of the best invoicing tools that are currently on the market and that are able to deal with multiple currencies.

The best invoicing software for small business owners

1) Zoho Invoice

Zoho Invoice is the tool I use for my translation and copy-editing business. I’ve been using it for over 4 years, and I’m really happy with it. So happy, in fact, that I signed up to be an affiliate for the software.

One of the big advantages of Zoho Invoice is that it’s 100% free. It doesn’t have any tiered pricing plans or any limits on client numbers or anything else. You can use the web-based software online, or you can download the mobile app depending on how you prefer to do things.

When it comes to dealing with customers in different countries, Zoho Invoice works with multiple currencies and is also multilingual. It currently provides support for as many as 17 languages, meaning that you’re likely to be able to send an invoice to your customer in their currency and in the language you usually communicate in. Currencies are associated at the client level and are then automatically applied when you create a new invoice for that specific customer.

Spanish- and Italian-to-English translator Lauren Mason started using Zoho Invoice after I recommended it. She says she’s found that it does exactly what she needs it to do, and for free!

2) LSP.expert

LSP.expert is a great option if you’re a translator. It’s been created by translators for translators.

I often find myself recommending this software tool (which I’m also an affiliate for) to linguists. This is because it’s so much more than an invoicing tool; it’s an all-in-one software for managing your business admin and finances. Not only does it allow you to manage projects if you subcontract to other freelancers, it also enables you to track your time and your expenses as well as your profitability.

LSP.expert is entirely web based. It offers a 30-day free trial, and once that’s over, prices start at €15 per month with savings if you pay annually.

English-to-Hungarian translator Anikó Pető-Mordovski says that LSP.expert has made her invoicing simpler to manage in 3 currencies while also helping her stay on top of late payments.

Meanwhile, Michael Dutton, CEO of Michael Dutton Language Services, highlights LSP.expert’s currency conversions. He’s found the conversions it shows to be reliable, in that they match up with the exchange rates found on Google and provided by his online banking. He also likes that the software gives you the option to show currency conversions on quotes and invoices.

3) PayPal

PayPal works with all the currencies that PayPal can accept payments in. This invoicing software allows clients to pay via PayPal or card, but you can also add your bank details to the ‘Notes’ section of your invoices if you want to give your clients that option too.

PayPal doesn’t have a monthly fee, but it does charge transaction fees on payments from your clients if they choose to pay online. I personally find PayPal’s fees a bit high, but I can see how it would still be a good option for some small businesses. Since most people already know and trust PayPal, it can make potential customers feel more confident when proceeding with a purchase or transaction.

You can use PayPal’s invoicing software via your web browser or via its mobile app.

Editor and proofreader Anne-Marie Emerson has different templates set up for local and international clients. She appreciates the fact that the template for local clients automatically adds the required taxes.

4) FreeAgent

FreeAgent is an accounting software for UK- and US-based small businesses. It’s free to use if you have a business current account with Natwest, Royal Bank of Scotland, Ulster Bank NI or Mettle.

Again, you can access FreeAgent online or by using the mobile app. It offers a 30-day free trial, then prices start at £19 per month. Having said that, you can sometimes find special offers for new subscribers.

German-to-English translator and editor Eleanor Toal finds FreeAgent easy to use and says the support team are great if you have any issues.

Business development consultant Nickie Mackenzie-Daste likes the professional look of the invoices as well as the fact that FreeAgent will integrate with HMRC in the future as part of the UK government’s Making Tax Digital scheme. This should make self-assessment tax returns much simpler to complete and submit.

I hope you’ve found this round-up helpful if you’re still on the fence when it comes to your invoicing software. If you’re not sure you want to invest in an invoicing tool, you can always sign up for one of the free options out there. Alternatively, you can test a software with one of the free trials to see how you get on (just don’t forget to set a reminder to cancel your subscription if you decide it’s not for you!).

If you feel as though you’ve benefitted from this advice and would like more recommendations or guidance on which tools to use for certain tasks in your business, you might want to consider a Custom 1:1 Mentoring call. Over the course of 45 minutes, we can discuss a topic of your choice, whether it relates to organising your business finances, pricing, quoting, negotiating, or invoicing. Click on the button below to find out more.

Find out more about my custom 1:1 mentoring calls