TTD and USD Invoicing for Trinidad Businesses
A TTD and USD invoicing workflow should state the invoice currency before the customer agrees to the price. Record payments in that currency and keep the reporting conversion alongside the original amount.
Agree the currency before issuing the quote
Put TTD or USD beside the amount on the quotation, invoice, statement and payment instructions. The dollar symbol alone leaves room for misunderstanding. Include the payment due date and the reference the customer should use.
Decide whether the agreement fixes the foreign currency amount or sets a local currency price that will be converted before issue. Record that choice with the quotation. An agreed customer price should not drift whenever a reference feed updates.
One USD invoice with a TTD reporting value
For a worked example, issue USD 250 using an illustrative rate of 1 USD = 6.80 TTD. The reporting value is TTD 1,700. A USD 100 payment leaves USD 150 outstanding, with a TTD 1,020 reporting equivalent at the same recorded rate.
This example assumes the payments are received in USD and excludes taxes and processing fees. Receiving a TTD bank payment for a USD debt needs a separate agreed conversion and settlement policy.
| Record | USD amount | TTD reporting value at 6.80 |
|---|---|---|
| Invoice | 250.00 | 1,700.00 |
| Payment recorded | 100.00 | 680.00 |
| Outstanding | 150.00 | 1,020.00 |
Make customer statements readable
Show USD and TTD balances in separate sections. A customer should be able to trace each balance to an invoice, credit note and payment. Keep reference numbers visible when producing a statement or export.
Use the reporting currency for management totals only after applying the recorded conversion. Preserve the original invoice currency in exported records so an accountant can reproduce the calculation.
Review tax treatment before changing currencies
Inland Revenue lists the information required on a Trinidad and Tobago tax invoice, including supplier details and VAT registration number, the recipient, serial number, issue date, description, VAT exclusive amount, VAT and total.
Have your accountant confirm how the transaction currency, conversion and applicable tax treatment should appear for your business. A currency selector does not establish tax compliance. Keep that review with the invoice template and setup notes.
What DSDillon POS currently handles
TTD and USD invoices can be issued within the same workspace. Customer preferences, statements, credits and confirmed partial payments retain their currencies. The automatic reference rate supplies the reporting equivalent.
The deployed version records confirmed external payments. A Stripe or bank reference entered by the owner is a payment record, and online collection requires a connected payment workflow. Discuss that connection when scoping the system.
Questions before you decide
Can I send USD and TTD invoices from one account?
DSDillon POS supports different invoice currencies within one business workspace. Each individual invoice has one currency.
Can a customer pay a USD invoice partly in TTD and partly in USD?
That requires an agreed mixed currency settlement workflow. The current DSDillon POS release requires payment entries to match the invoice currency.
Tell us how your business sells.
Share your business type, locations, currencies, invoice requirements and payment providers. We will scope the workflow, connections and acceptance tests.
