Add an Exchange Rate

Foreign currency exchange rates can be added for several currencies and set to be effective from a specified date. To minimize errors, it is always preferable to copy an Exchange Rate.

How to Enter a New Exchange Rate 

1. Navigate to Banking > Currency Exchange Rates.

2. Click the Add button.

3. Set the base currency to the default currency.

4. Select the currency to exchange to and the date the exchange rate becomes valid.

5. Enter the exchange rate for Customers for one unit of the default currency. e.g. for one unit of a local currency of AUD the USD exchange rate might be 0.8123

6. Enter the exchange rate for Suppliers for one unit of the default currency.

7. Click Save.

Bulk exchange rates can be added by first entering a date in the date filter field and then clicking the   button. Moveware will automatically create records for each currency in the system, using the latest historical currency values in the system. The exchange rates can then be updated to be today’s value.