How to Display Multi-Currency on Carrier Bills in Rose Rocket

Rose Rocket supports displaying & managing multiple currencies on carrier bills, helping freight brokers who operate across borders handle costs accurately. This feature also allows exporting multi-currency bills to QuickBooks Online (QBO).

Introduction

Rose Rocket now supports displaying and managing multiple currencies on carrier bills, helping users who operate across borders handle costs more accurately. This feature also allows multi-currency bills to be exported to QuickBooks Online (QBO), making it easier to reconcile accounts. Before exporting, users must ensure that multi-currency is set up in their QuickBooks Online account.

Benefits of Multi-Currency Support

• Accurate Billing: Easily track and display costs in different currencies, ensuring bills reflect agreed-upon amounts.
• Cross-Border Operations: For brokers working with international partners, manage quotes, rate confirmations, and bills in their local currency.
• Seamless Export to QBO: Export bills with the currency they were created in, ensuring alignment between Rose Rocket and QuickBooks Online.

Step-by-Step Guide to Using Multi-Currency

Step 1: Set Up Multi-Currency in Rose Rocket

1. Access Settings:
   • Navigate to the Settings menu, then General. 
2. Enable Multi-Currency:
   • Admin users can select a list of allowed currencies available within the system. We currently support CAD, USD and MXN.
   • Set a default currency for your organization.

Step 2: Assign Currencies to Quotes, Manifests, and Carrier Bills

1. Create a Quote, Manifest, or Bill:
   • When creating a quote, manifest, or bill, select the appropriate currency.

1. Review Currency Display:
   • The currency selected will be displayed throughout the document to ensure consistency and clarity.
     

Step 3: Exporting Multi-Currency Bills to QuickBooks Online

1. Set Up Multi-Currency in QuickBooks Online:
   • Ensure that multi-currency is enabled in your QBO account. Follow the QuickBooks Online guide for more information.
2. Export the Bill:
   • When you export the carrier bill, it will retain the currency it was created in, ensuring accurate financial records in QBO.

Important Notes

• No Currency Conversion: This feature does not include automatic conversion between currencies, meaning the margin will not reflect exchange rate differences.
• Manual Currency Selection: A default currency cannot be set in a partner’s profile. The currency needs to be selected manually for each transaction.

FAQs