Exchange rates

International transactions > Exchange rates

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

To edit the default exchange rate

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

2	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 (the Currency Profile view) appears.

3	Modify the fields as required and click OK.

4	Click Close to exit the Currencies List window.

To change the exchange rate in a transaction window

1	Open a foreign currency transaction window. You can record foreign currency transactions in the following windows:

▪	Sales, Receive Payments and Sales Register (Settle Returns & Credits view)

▪	Purchases, Pay Bills, and Purchases Register (Settle Returns & Debits view)

▪	Spend Money, Receive Money, Reconcile Accounts and Transaction Journal (General view).

2	Calculate the exchange rate first using the Currency Calculator. See Using the Currency Calculator.

3	Click Rate. 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.

Click OK.

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 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: go to the Help menu and choose Currency Calculator.