Support for Transactions in Foreign Currency
The Inland Revenue of Singapore (IRAS) requires that local sales in foreign currency must be converted into Singapore dollars. If amounts in a transaction are in a foreign currency, a GST Summary section is added in the printed invoice and credit note that uses the Singapore Tax Invoice and Credit Note Template, respectively. The GST Summary contains the total amount excluding tax (Subtotal), tax amount and total amount inclusive of tax (Total Amount) converted into the base currency. If your base currency is set to Singapore dollar, the GST Summary displays the amounts in Singapore dollar.