We would like to request the implementation of a feature that allows users to record customer payments in a currency different from the currency of the original invoice.

Current Limitation in Zoho Books

Currently, if an invoice is issued in USD, Zoho Books only allows the payment to be recorded against a USD bank account (or within the supported currency restrictions). Even when Advanced Multi-Currency is enabled and EUR bank accounts exist within the organization, those accounts are not available during the "Record Payment" process.

As a result, users are forced to use workarounds involving:

• Undeposited Funds
• Manual transfers
• Journal entries
• Additional reconciliation steps

These workarounds increase accounting complexity and create an audit trail that does not accurately reflect the real-world transaction.

Real Business Scenario

A company issues an invoice for USD 10,000.

The customer decides to pay from their EUR bank account.

The receiving company deposits the payment directly into its EUR bank account.

This is a very common occurrence in international business. The invoice currency should remain USD for contractual purposes, while the payment should reflect the actual currency received (EUR).

The accounting system should:

• Link the payment directly to the USD invoice.
• Record the actual amount received in EUR.
• Calculate the exchange rate automatically (or allow manual entry).
• Post any realized foreign exchange gain or loss.
• Deposit the payment into the EUR bank account.

This mirrors the actual financial transaction without requiring manual adjustments.

Industry Comparison

This functionality is already supported by Odoo Accounting.

According to Odoo's official documentation, users can:

• Create an invoice in one currency.
• Register the payment in a different currency.
• Allocate the payment to the invoice.
• Automatically calculate exchange differences.
• Reconcile the payment while preserving both currencies.

Odoo also allows bank statements to record the actual payment currency and amount, with automatic exchange difference postings during reconciliation.

This creates a much cleaner and more intuitive workflow for companies operating internationally.

Why This Matters

Many businesses:

• Import and export goods.
• Invoice customers in USD.
• Receive payments in EUR, GBP, CAD, or other currencies.
• Maintain multiple foreign currency bank accounts.

For these organizations, the inability to record the actual payment currency is a significant operational limitation.

Instead of representing the real banking transaction, accountants must create additional manual entries that increase complexity, consume time, and introduce opportunities for error.

Business Benefits

Implementing this feature would:

• Reduce manual journal entries.
• Improve bank reconciliation.
• Better reflect actual banking transactions.
• Improve foreign exchange accounting.
• Reduce implementation complexity for international businesses.
• Make Zoho Books more competitive with ERP platforms such as Odoo in the area of multi-currency accounting.

Suggested Enhancement

When recording a payment, allow users to:

• Select any enabled foreign currency bank account.
• Specify the currency in which payment was received.
• Enter the payment amount in that currency.
• Automatically calculate (or manually specify) the exchange rate.
• Allocate the payment to the invoice regardless of invoice currency.
• Automatically generate realized foreign exchange gain/loss entries where applicable.

This enhancement would significantly improve Zoho Books for companies conducting international business and eliminate one of the most significant limitations in its otherwise excellent multi-currency capabilities.