Open relevant year of the Company for which Exchange rates to be set up.
Go to Dashboard and click on “Edit Fiscal Year” button
Select suitable Exchange Rate list
Exchange rate lists can be viewed from “Central Files”. Existing Exchange rate list could be selected (or) please create a new Exchange rate list from “+ Exchange rate list” icon as per your specific requirements
Double click on the Exchange rate list to view its parameters, rates and currencies
Go to “Currency” Tab and click on “+ Currency”/ ”Edit Currency” button to add or edit currency
Click on "Add exchange rate" or "Edit exchange rate" buttons to create/edit Exchange Rate with unique Source and Target currency combination, Input direction, Standard Rate & Closing Rate
Click on “+ Daily rate” button to add daily rate
Daily rate could also be edited directly from Exchange rate list screen by selecting relevant entry and clicking on “Edit Daily Rate” button
This completes Exchange Rate list setup.
While creating accounts whose transactions are expected to be in foreign currency, relevant foreign currency should be selected in Currency field.
While booking entries for foreign currency accounts, foreign currency value could be inputted. Exchange rate and Company currency will be auto-calculated.
