The Exchange Rate configuration can be set to update automatically or managed manually. If you need detailed setup support, please contact your Onboarding Consultant.
When do exchange rates get updated?
Automatic Update: If the configuration is set to automatic, exchange rates are updated each evening.
Manual Control: If you want to use a specific rate, you can update it manually in the Currency Code field.
Auto Exchange Rate Settings
This setting controls whether exchange rates should be retrieved automatically.
Customer Account Exchange Rate Settings
Here, you can decide whether an exchange rate must be entered when adding a new customer record.
Purchase Invoice Exchange Settings
Enable this option if you want the system to fetch the latest exchange rate automatically when invoicing goods received.
Editing Exchange Rates
You can edit an exchange rate via System Settings, then click System Defaults and choose Customer Details.
Select the Currency Code.
Choose whether the exchange rate will be updated Manually or Automatically.
If manual, enter the exchange rate directly.
This is useful if you manage overseas bank accounts and want to apply a fixed rate.
Goods Received
When processing goods received, you can choose whether to use the supplier’s exchange rate.