The Currency Exchange from within BizCentric stores exchange rates manually inputted by the user. By default, BizCentric automatically retrieves current exchange rates for currencies from the market. Nevertheless, users have the option to input and utilize fixed exchange rates. To utilize the exchange rates stored in the Currency Exchange form, it is necessary to enable ‘Allow Stale Exchange Rates’ in Account Settings.

To access the Currency Exchange list, go to:

Home > Accounting > Multi Currency > Currency Exchange

1. How to create a Currency Exchange

1. Go to the Currency Exchange list and click on New.
2. Enter a date from which this exchange rate will be valid. New Currency Exchange forms saved with newer dates will be used in transactions.
3. Set the From and To currency.
4. Enter the Exchange Rate, for example, 1 USD = 65 INR.
5. Select whether the exchange rate applies to selling, buying, or both transactions.
6. Save. 

2. Related Topics

1. Exchange Rate Revaluation
2. Multi Currency Accounting