What you agree on is not what you receive
When a client pays you in dollars and you work in euros, or the other way around, three numbers come into play: the invoice amount, that day's exchange rate and what each intermediary charges along the way. You know the amount in advance; the other two, almost never. That is why two identical payments can leave different sums in your account.
The first question, then, is which currency you want to be paid in. If your expenses are in one currency, being paid in that same one saves you a conversion. If the client insists on paying in theirs, that is fine, but it helps to know what it will cost before you accept, not after the money has arrived. A good habit is to note, on each proposal or invoice, the currency and the day the price was set, so you can later compare it with what you actually received.
Exchange rate and fee: two different things
The reference exchange rate is the one published at market level, like the European Central Bank's. Many services apply a slightly worse rate and do not call it a fee, so the cost stays hidden inside the number itself. To compare them properly, work out how much you would receive for a fixed amount and look at the gap against the reference rate.
Some payments also carry a fixed fee per operation and others a percentage. On small amounts the fixed fee weighs more; on large ones, the percentage. Always ask for the full breakdown and note the final amount that reaches your account, which is the only figure that counts. A small difference on each payment seems minor, but repeated over months it can add up to the cost of a whole subscription or more.
Timing, limits and paperwork
An international payment does not always arrive the same day. Ask how long it takes, whether there is a maximum amount and whether the client has to add any detail, such as a reference or the reason for the payment. A payment held up for a missing detail is the most common scare, and a question beforehand almost always avoids it.
Keep the invoice and the receipt for each payment too, with the original currency and the amount received. When it is time to sort out your accounts or talk to your accountant, having both figures at hand avoids a lot of doubt. If taxes are involved, check with a professional: Dobits organizes your data but does not give tax advice. A folder organized by client and by month is enough; you do not need a sophisticated system, just consistency and everything in the same place.
How Dobits helps with this
In Dobits you see your payments and expenses in several currencies in one place, with the reference rate in view. You can ask the Agent how much a payment left you in euros or what share of your income is in dollars, and it answers with your own data.
If a payment arrives with an exchange you did not expect, the Agent explains where the difference comes from. It does not decide for you which currency to keep your money in, but it gives you the information to choose calmly. If that sounds useful, join the waitlist. And if one day you want to check how much currency exchanges have cost you in total, you ask and get the figure without opening a spreadsheet.