Does NuMetric support multi-currency accounting?
No. NuMetric is a single-currency platform.
Each business account operates using one home currency, which is defined during onboarding (for example, JOD for Jordan, SAR for Saudi Arabia, etc.).
All accounting records, reports, ledgers, tax integrations, and e-invoicing submissions are stored and transmitted exclusively in this home currency.
Why does NuMetric use a single-currency model?
To ensure:
Regulatory compliance (e.g., ISTD, ZATCA)
Accurate tax reporting
Consistency in accounting transactions
Simplified financial reporting for SMEs
Multi-currency accounting can significantly complicate VAT reporting and e-invoice validation. NuNumeric maintains a streamlined structure optimized for small businesses and local compliance.
If I receive payments in another currency, how do I record them?
You should convert the payment to your home currency using your preferred exchange rate and record it as:
Receipt amount in home currency
Optional note referencing the original currency
NuMetric does not maintain multi-currency balances.
How do I record supplier bills received in a foreign currency, and how should I handle exchange-rate differences when paying them later?
NuMetric records all bills strictly in the home currency, even if your supplier issues an invoice in a foreign currency (USD, EUR, etc.).
Because NuMetric is a single-currency platform, foreign-currency bills are handled using the following method:
Step 1 — Record the supplier bill in your home currency
When you receive a bill in another currency:
Convert the supplier’s amount to your home currency using the exchange rate on the bill date.
Enter the bill in NuMetric using the converted home-currency amount.
(Optional) Add a note with:
Original currency
Original amount
Exchange rate used
This ensures your books, ledgers, and reports remain consistent.
Step 2 — When paying the bill, apply the actual exchange rate at payment date
If the payment date has a different rate than the bill-date rate, you may incur a gain or loss.
NuMetric handles this using a manual journal entry, because foreign exchange gains/losses are outside the single-currency design.
You will:
Record the payment in home currency using the actual rate on payment date.
Compare the payment amount vs. the original recorded bill amount.
Record the difference manually as:
Loss On Foreign Exchange (expense) if payment in home currency is higher
Gain On Foreign Exchange (income) if payment in home currency is lower
Important:
NuMetric does not adjust bills automatically based on currency fluctuation and does not track multi-currency balances.
All exchange-rate corrections must be recorded manually to keep financial statements accurate.