Most SMEs record invoices in SGD using a consistent rate source on the invoice date, then record settlement using the rate on the payment date. The difference should go to FX gain/loss, not revenue or expenses. The key is consistency (same source, same method) and keeping bank/FX documents to support the numbers.
If I invoice in RMB, what exchange rate should I use for bookkeeping in Singapore?
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About the Author: Bernard Koo
Bernard Koo is a business development strategist and AI consultant with a background in marketing and advertising. He helps businesses grow through data-driven SEO, PPC, and campaign strategies, while also guiding company incorporation and compliance across Singapore, Malaysia, and Indonesia. With experience in AI-powered messaging, WordPress development, and regulatory advisory, Bernard delivers practical, scalable solutions that align marketing, technology, and operations for business success in Southeast Asia.
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