Exchange rates

International transactions > Exchange rates

When entering a foreign currency transaction, you can either use the default exchange rate for the currency or enter a new rate for the transaction.

To change the default exchange rate

1	Calculate the exchange rate first using the Currency Calculator. See ‘Using the Currency Calculator’ below

2	From any command centre, go to the Lists menu and select Currencies. The Currencies List window appears.

3	Select the currency entry you want to modify and click Edit. (Alternatively, click the zoom arrow next to the currency name.) The Currency Information window (Currency Profile view) appears.

4	Modify the fields as required and click OK.

5	Click Close to exit the Currencies List window.

To change the exchange rate in a transaction window

1	Calculate the exchange rate first using the Currency Calculator. See ‘Using the Currency Calculator’ below.

2	Open a foreign currency transaction window. You can record foreign currency transactions for:

■	sales, invoice payments, and settle returns & credits

■	purchases, bill payments, and settle returns & debits

■	banking transactions and general journal entries.

3	Click Rate at the bottom of the transaction window. The Exchange Rate window appears.

4	Type the new exchange rate in the Transaction Exchange Rate field. This will only affect the transaction that is currently displayed.

5	If you want to change the exchange rate for all future transactions that use this currency, select the Update Current Exchange Rate in the Currency List with Transaction Exchange Rate option.

6	Click OK. The transaction window reappears.

Using the Currency Calculator

If you receive a payment for a foreign currency invoice in your local currency, you can use the Currency Calculator to quickly calculate the exchange rate based on the foreign and local amounts, or to calculate the foreign amounts based on the local amounts and the exchange rate.

You can access the Currency Calculator from any window in your software: go to the Help menu at the top of the screen and choose Currency Calculator.

■	Tracking currency gains and losses

■	Setting up multiple currencies

More help options

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