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Currency Rates Settings

Currency Rate refers to the exchange rate used to convert values between different currencies within the system. This feature enables administrators to define, manage, and control conversion rates between foreign currencies and the organization’s default (base) currency.

Purpose

Currency Rates are applied in the following scenarios involving non-default currencies:

  • Creating Inventory Delivery Vouchers from Invoices or Purchase Orders

  • Creating Inventory Receiving Vouchers from Purchase Orders

  • Creating Packing Lists from Inventory Delivery Vouchers

  • Creating Return Orders from Inventory Delivery Vouchers

Currency Rate Settings

1. Automatically Get Currency Rates

  • Enabled
    The system automatically retrieves currency exchange rates from online sources (such as Open Exchange Rates or the European Central Bank) at scheduled intervals.

  • Disabled
    Currency rates must be updated manually by users, either by:

    • Clicking the Get Online Currency Rates button, or

    • Entering exchange rates manually.

2. Maximum Number of Storage Days

Defines how long Currency Rate Logs are retained in the system.

  • 0: Currency rate logs are stored indefinitely and are not deleted.

  • Greater than 0: The system automatically deletes currency rate logs that exceed the specified number of days.

3. Save Settings

Click Save to apply and store the following configurations:

  • Automatically Get Currency Rates

  • Maximum Number of Storage Days

Get Online Currency Rates

If automatic rate retrieval is disabled, click Get Online Currency Rates to:

  • Retrieve the latest available exchange rates from online sources

  • Immediately update the Currency Rate table

Managing Currency Rates

Each currency rate entry can be managed by hovering over the corresponding row and selecting one of the available actions:

Edit

Use this option to:

  • Manually update an exchange rate instead of fetching it online

  • Set the exchange rate between two currencies to 0, if required

Delete

Use this option to:

  • Remove an existing exchange rate entry

  • Set the exchange rate between two currencies to 0

Currency Rate Logs

Currency Rate Logs record historical updates of exchange rates, providing:

  • Traceability of exchange rate changes

  • Audit support for financial and inventory transactions

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