Mark Blundell Community Manager. Andrew Tokeley Xero Staff. Brittany H Community Manager. Kelly M Community Manager. I would like the ability to add additional currencies that are not on the standard list. Our business has begun to accept payments in Bitcoin, for example, and bitcoin xe exchange have no way to add that to the currency list. So I would like the option to add a new currency for the peso so I can enter the exchange rates manually.
Digital currencies are still a very dynamic field, and they have a number of requirements which have far reaching consequences in terms of accounting system design. None of those are insurmountable, but as with any piece of work we do, the value has to be proportional to the cost.
There is actually quite a lot of infrastructure which has to be built to make digital currencies work properly in Xero, and when we do it, which we absolutely will, we will do it properly. Recent events with Cash, Gold and the failed Segwit2x forks have highlighted that the system we build needs to allow a lot of user control, where our current currency model has us doing most of the heavy lifting.
We have thousands of things we would like to improve in Xero. We have feature requests from the community forums, we have our own strategies, we have government mandated compliance - there are a lot of directly competing inputs. We only have a finite amount of engineering capability and so anything we do, is saying no to many other things. That means bitcoin xe exchange piece of work has to stand up bitcoin xe exchange scrutiny about how much value it adds, and for how many.
We see that digital currencies will only increase in use and importance in the future. This update is open and frank; it bitcoin xe exchange not be exactly what you want to hear, but this is us being highly open and transparent.
I hope you will respond in kind and I look forward to sharing bitcoin xe exchange concrete plans for cryptocurrencies in the future. Show all replies. Hi - you can still select Argenitine pesos and then change the rate manually on individual invoices http: Yes, that is true, but every single day I need to change the currency rate. The XE rates list the peso at 4.
If I could bitcoin xe exchange a new currency I could just input my rate and have the system save my rate on a permanent basis instead of defaulting back to the XE rate each day.
I would also like to request this feature so we can add bitcoin as a currency in the list. FYI WordPress just started to accept bitcoin payments bitcoin xe exchange week. So, it would be great if we could have a way to get custom currencies added in Xero. I would like to add my voice here; this would be a very simple quick addition just adding bitcoins or a generalized 'custom currency' to bitcoin xe exchange dropdown.
This sort of support really helps businesses that want to transact in Bitcoin; I bet you'd get great press and buzz if you went ahead and did it. I'd like to chime in on the bitcoin xe exchange good press issue. WordPress got a lot of press this week when bitcoin xe exchange decided to take bitcoin payments -- all the major digital news outlets. Xero could get a lot of buzz from the major media outlets if they were the first accounting package to allow businesses to easily account for their bitcoin transactions.
I'm a Xero shareholder, so not only would this be a great feature for me as a user, but I'd like to see Xero get some good press from this as well. Jon Matonis at Forbes is the most well-connected reporter who is covering bitcoin.
That'd be a good place to start if you decide to implement this and want to get some good PR out of it. I vote for bitcoin too, we already have expenses, income and salary payments in bitcoin. It would be so convenient to be able to have the USD conversion rates automatically and correct like with other currencies.
And it should be so easy to integrate. Bitcoin as a currency please! Global digital currencies and the Single Bitcoin xe exchange approach by Xero go hand in hand - please can we add invoicing in Bitcoin or just the addition of BitPay as a payment gateway so a link can be added to the invoices. I am starting to use Bitcoins in my business too this would be great! Also XERO you would get a lot of publicity and new customers if you go ahead as bitcoin xe exchange of the first systems to support this.
Support Bitcoin xe exchange Pretty simple one here We've begun to accept Bitcoin in payment for certain products and services and can't show it on our books in our multi-currency package. Please add it with exchange rates from one or many of the big exchanges. It's good for the world: I've seen this requested plenty of times from our customers. This should be so simple.
The more important point here is the ability to define custom currencies and data sources for exchange rates. It is true that some benchmark exchange rates fail to reflect reality or other data sources are more appropriate. I will be using it for my business for international orders. Our company primarily does business in Bitcoin so this is an important feature for us.
Is this out of concern for regulation? Most governments consider Bitcoin a completely valid form of payment as witnessed by the recent hearings in the US congress and by the New York regulator. There is going to be a massive influx of people requesting it soon. If Xero doesn't do it, other companies will. Bitcoin xe exchange a quick update here to let you know where we're at.
We're aware they are working on a new feed, that will hopefully contain XBT, and we'll explore supporting it then. There are some additional challenges bitcoin xe exchange the currencies volatility. For example, right now, Xero displays currencies at 2dp. Not saying we won't bitcoin xe exchange it but it's not quite as trivial as waiting for the currency to appear bitcoin xe exchange the feed.
Regarding being able to create your own currencies and rates - this could work, but we'd probably need to support you feeding Xero with the rates you want, right? Via an import or the API. Otherwise you'd have to set the rate manually as it changed - which would be a pain.
Keen to hear how people think this could work. Thanks for the thoughtful reply, Andrew. I certainly understand that it's not as bitcoin xe exchange as using the xe. Of course there are many Bitcoin-specific feeds such as https: I think the best solution to this would be to allow custom currencies. There are many more crypto currencies other than Bitcoin that bitcoin xe exchange being accepted by merchants such as Litecoin and Dogecoin.
Supporting more than two decimal places would definitely help, but even working in Satoshis would be acceptable in the short term. As most crypo currencies are still very volatile and sometimes trade at significantly rates on different exchanges, an API would bitcoin xe exchange useful to allow CRUD of exchange rates at different points in time.
Xero would then interpolate between those points. On another note, the existing transactions API should allow one to easily connect any coins bitcoin xe exchange to a bank account in Xero to get real time transaction data.
Wouldn't the best denomination be to display in microbits ie: Then 1 Satoshi the smallest unit would be 0. Then it would be relatively simple to show every denomination without rounding and also maintain the two decimal places convention in Xero which is actually really helpful for simplicity.
If Xero would like a reliable source of cryptocurrency exchange rates including Bitcoin, Litecoin, Dogecoin etcCryptFolio can supply it as collated from dozens of exchanges - send us a message. Best site for pricing by far! Hello, I'd bitcoin xe exchange like to see BitCoin support in Xero please - we recently invested in some BitCoins, and I'm not even sure that it's possible to add a bank account to show them as a balance?
Anybody else come across this problem? And, if so, what account are you using when accounting for your purchase of Bitcoins from your company bank account? Google Finance also now has bitcoin as a currency I would like to add my voice to this request for acceptance of Bitcoin payments. It would be brilliant to be able to lead the pack in this.
Another requesting voice - we're eagerly awaiting Bitcoin integration. Presently we maintain two separate accounting software suites, and I'd love to discard the second and do it all with Xero. You can move bitcoin xe exchange decimal point a few places to the right and display in mBTC or bits, so you needn't necessarily to worry about a 2dp limitation - this is becoming an industry standard anyway.
We'd like Bitcoin as well and other cryptos. We don't need Xero to do multicurrency conversions for us so no price feed neededwe use tracking accounts to track FX gains and losses. It would make reconciling withdrawals from exchanges bitcoin xe exchange lot easier for me. I definitely agree - add bitcoin or other crypto currencies or custom currencies - even quickbooks has it. If XBT as the unit is difficult because of the number of digits e.
Hi, I agree to adding custom currencies and rates. Given volatility, etc, the simplest solution would be to add a bitcoin xe exchange currency and be able to update the rate which is already possible in Xero. All I need right now is the ability to choose a custome currency that does not get live feeds. Bitcoin xe exchange would solve bitcoin xe exchange peoples' problems immediately with a slight workaround putting in rates and in the medium term you can get the integrations going.
Either way the custom option still makes sense to keep. Please can you switch this on? Hi, Just wondering if this has progressed much?
The code from this video can be found here: Poloniex API: How moving averages work: Get some bitcoin ornaments for Christmas: Contact me directly. Here are the capabilities advantages disadvantages of several exchanges.
Try again or visit Twitter Status for more information. Name, Binance Coin.