Using Currencies in Invoices and Other Sub System Transactions - Exchange Rates using the Simple Conversion System

Using the Invoice as an example, this page describes Exchange Rates and the simple currency conversion system in Sub System Transactions.


When you create a new Invoice and specify a Customer, the Currency and all conversion rate fields will immediately be filled automatically. The Currency will be visible in the footer of the Invoice, and will be chosen as follows:

  1. The Sales Currency on the 'Pricing' card of the Contact record for the Customer will be used. In this case you will not be able to choose another Currency in the Invoice.

  2. If you have not specified a Sales Currency for the Customer, the Default Base Currency will be used, taken from the Base Currency setting in the System module. Usually this will be your home Currency. In this case, you can substitute any other Currency if necessary.

The Currency will also be visible on the 'Currency' card of the Invoice, together with the conversion rate applying on the Invoice date:

When you are using the simple conversion system, the Exchange Rate will be displayed as a ratio in the Rate and right-hand Base Currency 1 fields. The other Exchange Rate fields are not used. Here, the foreign Currency is JPY and the home Currency (Base Currency 1) is GBP. JPY 147.62190 buys GBP 1.00, so prices in the Invoice will be calculated by multiplying each Item's normal price by 147.62190.

The Exchange Rate will be taken from the Exchange Rate register. You can change the Exchange Rate in an individual Invoice, unless you have prevented this by selecting the Prevent Foreign Rate Changes option in the relevant Currency record.

As already mentioned, prices in an Invoice will usually be calculated by applying the exchange rate ratio to each Item's normal price (chosen as described here and subsequent pages). The exception will be when you have assigned a Price List to an Invoice, and the Price List and Invoice are in the same Currency. In this case, prices in the Invoice will be taken directly from the Price List and no conversion or recalculation will occur. Please refer here for an illustrated example.


Using Currencies in transactions of various kinds:

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