From Loose Ends to a Reconciled Administration for International Payments

As a software company with international subscriptions such as GitHub, Docker, and others, we regularly process payments in different currencies. What may seem simple on paper can, in practice, lead to recurring administrative adjustments.

For us, it wasn’t about saving a few hours of work, but about preventing frustration, reducing manual effort, and structurally avoiding unnecessary conversion costs.

The Problem: Currency Differences and Manual Reconciliation

Previously, all our payments, including those in US dollars, were automatically debited from our euro account. This regularly resulted in currency differences. The amount debited from the bank almost never matched the amount on the dollar invoice exactly, partly due to transaction fees. Even with a correct exchange rate, the debited amount can differ slightly as a result.

This meant that in Exact Online we had to manually match purchase invoices to the correct payments. In addition, the supplier was not always automatically recognized, which meant we had to manually link each payment to the correct creditor. As a result, this process became a recurring task that distracted us from other work.

On top of that, we discovered that exchange rate markups can range from 1.5% to as much as 3% on currency conversions, meaning we were also paying additional costs on every conversion.

The Solution: Wise

With Wise, we now work with both a euro account and a dollar account, connected to a single digital credit card. The major advantage is that payments are automatically debited from the correct account:

Dollar payments → Dollar account Euro payments → Euro account This eliminates unnecessary conversions and therefore prevents unexpected currency differences. You only pay conversion fees once when converting funds between accounts. Over time, this helps avoid unnecessary costs.

The Result: Clarity and Control

Combined with our Exchange Rates app, we now record dollar invoices directly using the correct exchange rate. The amounts on the invoice and the bank debit match neatly again.

This ensures that the administration is automatically correct, instead of needing corrections afterward.

Want to Save Time Too?

Are you also experiencing currency-related issues with international payments and looking for an administration that reconciles automatically while avoiding unnecessary costs?

With our Wise Connector and Exchange Rates app, we’re happy to help you implement this process. Feel free to contact us for more information.