The Settings -> System settings -> Additional currencies page allows defining additional currencies and their exchange rates to the system’s base currency.
- Please note – the system uses only one base currency in stock, and to which the additional currencies relate to. The base currency is defined at Settings -> System settings -> Regional settings -> Currency sign.
- The idea of different currencies is to display them on purchasing/sales documents – Purchase order (PO), Customer orders (CO), and Invoice/Quotation/etc.
- It is also possible to set default currencies for customers and vendors.
- The price of every lot in the stock is displayed in the base currency. Even if a different currency is used when making a PO, the stock lot will still be displayed in the base currency, taking into account its exchange rate.
- When creating a document, the currency exchange rate is taken from the list of additional currencies. It is possible to change the rate in the particular document after.
- Important! Changing the currency sign in System setting -> Regional Settings (in a live database) will not result in any changes in financial values or recalculation of documents and exchange rates; only the sign is changed.
Update rates automatically
MRPeasy can update currency rates automatically each night. To enable this functionality, please change the value of the Settings -> System Settings -> Software settings -> Update currency rates to Yes.
This function requires that all currencies are defined as 3-letter codes according to the international standards (USD, GBP, AUD, EUR, etc.). See: https://en.wikipedia.org/wiki/ISO_4217
The provider of the real-time rates is Openexchangerates.org. The rates are mid-market rates derived from the mid-point between the "buy" and "sell" transactional rates from global currency markets.