Crunch unveils free multi-currency accounting for entrepreneurs
Service to convert Euros, US, Canadian and Australian dollars
Online accountancy firm Crunch is offering free multicurrency conversion through its accounting software, in a bid to help small businesses trade internationally.
Crunch’s customers, including small businesses and freelancers using its free ‘Solo’ accounting software (launched earlier this year), can now raise invoices in overseas currencies – including Euros, US, Canadian and Australian dollars – free of charge, with more currencies to be added soon.
The technology, which links to the European Central Bank to access the latest figures, then automatically converts the figure into sterling and inserts it into the customer’s accounts.
Furthermore, after an invoice is paid, the software will automatically calculate the currency loss and gain and its impact on profit and loss – saving entrepreneurs time and money.
Users can also assign default currencies to specific customers, so that invoices are always raised in their local currency.
Darren Fell, founder of Crunch, said: “[Crunch’s ‘Solo’ software] is a fully free accounting system, including all tax calculations. It’s easy to use and requires no technical skills to upload, with multi-currency support and the easiest bank reconciliation in sterling.
“We’re in a great position to truly help the UK’s freelance and small business community, without charging rip-off premium prices.”