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Currency Rates

This function allows you to define the exchange rates used to convert one currency to another.

Figure: Example Currency Rates Screen

The grid on the left is a list of currency codes in the system. This is the 'convert from' currency. The grid on the right shows the exchange rates defined for a specific currency code. As you move through the list of currency codes in the left grid, the exchange details will be displayed for that currency in the right grid. Depending on the System Setting # of Currency Rates to Show that is used to specify how many/which dates to display exchange rates, currency rates can show previous exchange rates. The option applies to each of the currency code pairs - that is show last 2 rates means show last 2 rates for EUR -> GBP, and last 2 for EUR->USD, and so on.

The details required for a new exchange rate are:

Convert To

The currency you want to convert to.

Effective Date

The date the exchange rate will become effective.

Exchange Rate

The rate required to convert the main currency code to the Convert To currency code. This is the rate that will be used at POS when accepting foreign currencies. A label is displayed to clarify which way round the exchange rate works, for example 1GBP = 1.1536 USD. Allows up to 9 decimal places.

Accounting Rate

The rate required to convert the main currency code to the Convert To currency code. This is the rate that will be in inventory transactions and costs/sells for items. Used for global reporting. Allows up to 9 decimal places.

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