NEW: More Cryptocurrency Support to Denominate Your Invoice in Fiat, and Get Paid in Crypto
👋 Request enthusiasts,
It’s time for another update on what the Request team has been working on diligently in the last few weeks.
More cryptos now available for fiat-denominated invoice
Starting today, there are more crypto options for you to create an invoice that can be denominated in traditional currency and payable in crypto. In other words, you can set the payment amount of the invoice in fiat (ex. USD or EUR) while being able to receive the actual funds in crypto like Aave, GRT, Ocean, or any other ERC-20 tokens that are currently supported in Request Invoicing. Only ERC-20 tokens can be denominated in fiat at the moment.
Previously, users could only issue an invoice in crypto when the invoice itself is also denominated in crypto. The only exception to this is a combination of a few fiat money and stable coins such as the USD with the DAI, since the DAI is pegged to the USD.
Denominating a crypto invoice in fiat was a feature that was highly requested by our users and considered to be very beneficial for their bookkeeping and accounting purposes. You can learn more about a few accounting challenges with blockchain companies and cryptocurrency from this article: https://request.network/en/academy/blockchain-accounting/
No longer is the case for users to manually input exchange rates for their invoice or payment with this new product feature. Now, currency conversions from fiat to crypto happen automatically on-chain when the invoice is issued.
Also in this release: more fields added to the CSV export to make Request easily compatible with most bookkeeping software
The CSV export is a popular feature commonly used by our users to quickly and easily import invoices from Request Invoicing into other accounting software such as QuickBooks and Xero. Listed below are several of the new data fields that have been added to the CSV export function of Request Invoicing:
- wallet address from
- wallet address to
- link to the transaction in etherscan
- USD value at the time of transaction
- fee in ETH
- fee in USD at the time of transaction
- and many more …
You can learn more about how to use the CSV export from this article: https://request.network/en/2020/10/02/synchronize-your-crypto-invoices-payments-through-csv-exports/
Additionally, we’re currently accepting beta testers to help us with further developing and improving our Xero integration with Request Invoicing.
Are you interested in testing our integration with Xero? You can email us at firstname.lastname@example.org with the subject “Xero integration”.
Stay tuned for more updates in the coming weeks covering this topic, including batch payments, Gnosis integration, referral program, and credit notes!
- 🛠 7 bugs fixes, UI & UX improvements. We’re committed to providing our users a smooth experience.
👉 We need you 👈
Are you an existing Xero user?
We want your help testing our upcoming integration and are willing to offer compensation for your time.
👉 Email us at email@example.com and let’s schedule a time to chat.
Now is better than ever before to take advantage of cryptocurrency for your business.
Product Manager at Request