Keep the currencies the company deals in, mark one as the default, and enter a rate for each day a foreign currency is used. A document in a foreign currency needs a rate for its date.
Open Currency (the screen's title is Currency; you need the right to see currencies). The list shows Name, Code, Unit, Symbol, Default and Status.
1
Add a currency
Who
Accountant or administrator
Where
Currency > Add
What changes
Enter the Name, the Code (short name, for example USD), the Unit, the Symbol and tick Default only for your own currency. Active starts ticked.
Needs
The name and the code must each be new: neither can repeat another currency.
2
Mark the default
Where
Default
What changes
Exactly one currency is the default, the company's own. Ticking Default on another currency takes it off the previous one.
3
Enter the rates
Where
Open the currency's row to see its rates > Add
What changes
One row per date: Date, Currency exchange rate, Buy rate and Sales rate.
Needs
Every rate above 0, and the Sales rate not below the Buy rate. One rate per currency per date. The default currency takes no rate.
What the rates are used for
A sales or purchase document in a foreign currency looks up the rate for its date. With no rate for that day the screen refuses to save and asks you to set the rate for the currency (Messages you may see). Enter each day's rate before the first document of that day, or the day before.
Change, deactivate, delete
Edit a currency or a rate from its row.
Select rows and use Activate all, Deactivate all or Delete all for several currencies.
The default currency cannot be deleted. A currency that documents use cannot be deleted either; deactivate it so it is not offered any more.
Common questions
Which of the three rates does an invoice use?
A sales or purchase invoice uses the exchange rate: the Exchange rate box of the rate, shown as Currency exchange rate in the list of rates. The Buy rate and Sales rate are kept with it, and the screen checks all three when you save: each above 0, and the sales rate not below the buy rate.
The rate is refused because the currency already has one for that date.
Each currency has one rate per date. Open the existing rate for that day and edit it instead of adding another (Messages you may see).
"Sales rate could not be less than buy rate."
The two rates are the wrong way round. Correct them and save again. A rate of zero or less has its own message: "Rate can not be less than or equal to zero."
