Free multicurrency service launched by Crunch

Crunch today announces its free multicurrency conversion service for all customers making it the only online accountant to offer overseas accounting at no cost. This means customers can now raise invoices in overseas currencies and the Crunch system automatically converts and inserts the sterling figure into the customers accounts.

When an invoice is paid, the currency gain/loss is automatically calculated and its impact on profit and loss. This is now available for all Crunch customers, including those using its free ‘Solo’ software, and enables conversion into euros, US dollars, Canadian dollars and Australian dollars. Other currencies will be added soon.

Small business owners will save time and money as they no longer need to manually convert overseas invoices into different currencies. Crunch’s back-end software links to the European Central Bank to get the latest figures and will show if currency fluctuations have had a positive or negative impact on the business’ income.

Darren Fell, MD and founder at Crunch said: “Crunch provides the UK’s easiest to use accounting software at no cost. It’s a fully free accounting system, including all tax calculations, it’s easy to use and requires no technical skills to upload. And now it’s even better, with multi-currency support and the easiest bank reconciliation in sterling.

“We’re in a great position to truly help the UK’s freelance and small business community without charging rip-off premium prices,” added Fell.

Additional software tools within this new service, making it easier to manage the business for overseas clients, include the ability to see a value in GBP when raising an invoice in another currency – simply hover over the overseas figure to see it in GBP. Customers can also assign default currencies to specific customers, so that invoices are always raised in their local currency as standard.

Today’s new service follows the launch of Crunch’s free accounting software at absolute zero cost, ‘Solo’, earlier this year.

More information and a Q&A on the new multicurrency service is here: http://support.crunch.co.uk/entries/21798951-9th-august-2012…

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About Crunch Accounting

Crunch Accounting combines a team of expert accountants available on the phone with easy-to-use online accounting software. Designed specifically for freelancers, contractors and small businesses, Crunch Accounting is more than just accounting – it’s a business tool. The original flagship accountant and software service ‘Complete’ is available for a fixed monthly fee of 59.50 GBP. This offers unlimited support from a personal accountant, the ability to invoice, add expenses, have annual accounts and returns prepared and see the exact health of their businesses instantly with a fun, innovative and simple-to-use website with banking grade security.

Other services include Solo (free) – free access to Crunch software, no accountancy advice, or extras. Solo, with the software including automated receipt scanning, bank integration, on-the-fly reporting, and full data export facilities to support tax return submission (9.50 GBP p.m.). Max aimed at bigger businesses, allowing payroll for up to 10 employees, plus twice yearly financial health check from personal team of accountants (89.50 GBP p.m.).

Crunch is founded by online entrepreneur Darren Fell, with investment from Bebo’s co-founder Paul Birch and former Skype Chairman Michael van Swaaij.

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