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Every workspace has one base currency. Rates, clients and invoices can each use a different one. When they mix on an invoice, you supply the exchange rate.

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The three places currency is set

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Set the workspace base currency

1

Open Settings → General

Click Settings in the sidebar, then General.
2

Edit Base currency

Enter a three-letter code such as USD. The field accepts exactly three letters.
3

Save

The new base currency becomes the default in every currency picker.
Northwind Studio uses USD.
Changing the base currency does not convert anything. Existing rates, entries and invoices keep the currency they were created with.

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Which currency an entry uses

The currency comes from the rate that won, not from the workspace. See /rates/how-rates-are-chosen.

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Supported currencies

TimeTracker uses standard three-letter ISO codes and knows how many decimal places each one has. That matters more than it sounds. An unrecognised code is rejected rather than assumed to have two decimals. You see “That isn’t a currency code we recognise. Pick one from the list.”

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Rounding

Money is rounded once, at the end, to the currency’s own number of decimal places, using half-up rounding. It is never rounded partway through a calculation. That is why a subtotal, a discount and a tax line always add up to the total exactly.

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Exchange rates on an invoice

An invoice is always in one currency. If a line you select is priced in a different currency, you supply the rate that converts it.

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How it appears

An Exchange rates section appears in the invoice builder as soon as a selected line’s currency differs from the invoice currency. It reads:
Some selected lines are billed in a different currency than this invoice (USD). Enter the rate to convert each into USD.
You get one field per source currency, labelled for example EUR → USD rate.

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How the rate is used

The rate is a multiplier: one unit of the source currency equals this many units of the invoice currency. Ana Ferreira bills at €80/hour. The invoice is in USD. You enter 1.08. €80 × 1.08 = $86.40 per hour 4 hours × $86.40 = $345.60 The line is stored in USD at $345.60, and the rate 1.08 is frozen onto it.
There is no automatic rate lookup, and there is no silent 1:1 fallback. If a conversion is needed and no rate is supplied, the save is refused rather than the money being mis-priced.

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The rate is frozen

The exchange rate is snapshotted onto the invoice line when the invoice is created. Entering a different rate on a later invoice never re-prices an earlier one. See /rates/rate-snapshots.

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Avoiding mixed currencies

The simplest setup is one currency per client.
1

Set the client's default currency

On the client record, pick the currency you actually bill them in.
2

Set matching rates

Give everyone who works on that client a rate in the same currency, or a project rate in it.
3

Invoice

No exchange rate section appears, because nothing needs converting.

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Example

Northwind Studio (base USD) bills a European client in EUR. Daniel builds an EUR invoice with time from both.
  • Ana’s lines are already in EUR – nothing to convert.
  • Sarah’s lines are in USD, so the Exchange rates section shows USD → EUR rate.
  • Daniel enters 0.92. Sarah’s rate converts to $100 × 0.92 = €92.00 per hour.
If Daniel had built the invoice in USD instead, he would have been asked for a EUR → USD rate to convert Ana’s lines.

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Permissions

See /concepts/roles-and-capabilities.

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Common questions

No. You enter the rate you want to use, on the invoice, at the moment you build it. That rate is then frozen onto the invoice.
No. Every line on an invoice is stored in the invoice currency. Anything in another currency is converted first, using the rate you supply.
No. The Currency field locks as soon as the invoice has a line. Remove every line to unlock it, or start a new invoice.
The selected client’s default currency. You can change it until the first line is added.
Because the yen has no minor unit. TimeTracker rounds each currency to its own number of decimal places rather than assuming two.
No. A payment must be in the invoice currency. See /invoicing/record-a-payment.

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Troubleshooting

Taxes and currency

Currency on the invoice itself.

How rates are chosen

Which rate decides the currency.

Create an invoice

Where you enter an exchange rate.

Rate snapshots

Why a frozen rate matters.

Set a person rate

Choosing a rate’s currency.

Record a payment

Payment currency rules.