Currency Rates Accounting Setup

Accessing Currency Rates

Navigate to the Settings section and under the Account Setup Section click the “Currency Rates” Button.

Overview

The Currency Rates page allows users to:

• Add new currencies and set their exchange rates.

• Define multiple relative rates and set their priorities.

• Update existing currencies (including rate, name, and ISO code).

• Delete unused currencies.

• Manage all currency-related data affecting system transactions and money conversions.

List Description

Main Functionalities

1. Creating a New Currency

1. Click the ‘+’ button to open the Currency Settings form.

2. Complete the form with the required details (Code, ISO, Name, etc.).

3. Click Save currency to add the new currency.

4. The Rate Settings block will open automatically:

• Enter the exchange rate in the Rate field.

• Select the currency this rate is Relative to.

• Choose the Date for the rate.

5. Click Save to confirm the rate.

6. (Optional) Use the star button to set this currency as the default.

7. Use the Do not update checkbox to exclude this currency from automatic updates.

2. Managing Currency Rates

• Adding a Rate:

  • Click + New in the Rate Settings block.

  • Fill in the rate, relative currency, and date.

  • Click Save to store the new rate.

• Updating a Rate:

  • Select the rate entry from the list.

  • Edit the fields as needed.

  • Click Save to update.

• Deleting a Rate:

  • Select the rate entry.

  • Click Delete and confirm in the dialog.

3. Updating All Rates

• Click the Update Rates button to fetch and apply up-to-date exchange rates from the system’s data provider.

4. Deleting a Currency

1. Select the currency from the list.

2. Double-click the currency name to open its details.

3. Click the Delete button.

4. Confirm deletion in the popup dialog (“Do you want to delete currency? Yes/No”).

Alternatively, select the currency and use the Delete button directly from the list.

5. Sorting and Filtering

• Sort currencies by Code, ISO, or Name.

• Sort rates by currency or by date:

  • Use the Search rate to selector to filter by relative currency.

• Use the From/To date selectors or calendar icon to filter by date range.