Add New Billing Currency

Add New Billing Currency

1. Click System Admin
2. In the Navigation pane, click Billing Settings and then Currency Exchange Rate.
3. There are two ways you can start to add an exchange rate with either of the following methods,

• • Within the toolbar directly above the Navigation pane, click the drop-down arrow next to New, then select Currency Exchange Rate.
  • Within the Actions pane, click Currency Exchange Rate.

4. With either of the above options once selected the General – Currency Exchange Rate window opens. There are two panes of information the Billing Currency pane allows you to define the details of the rate such as symbol, culture, etc.  The Exchange Rate pane allows you to determine the rate and direction.
5. Within the Billing Currency pane, complete the following fields, all fields are required to be completed before continuing:

• • Billing Currency * – type-in the name of the currency for example: Euro, Yen, etc
  • Currency Culture * – click on the dropdown arrow to access a menu and from the menu select the culture of the currency for example if you are using the Yen the culture would Japanese (Japan). You can search for the culture by typing in any portion of the country name into the text box in the upper right hand corner of the dropdown.  Once selected the culture name appears in the field.
  • Currency Symbol – Once you have selected a culture this field will automatically populate with the corresponding symbol
  • Default Conversion Direction – click on the dropdown arrow to access a menu from the menu select one of the following options:
    • To (system to foreign) – the is the default direction and will change imported invoices from the dollar to the foreign currency
    • To (foreign to system) – this does the opposite and will change the imported invoices from the foreign currency to the dollar

6. Once you have completed the fields, it is a good idea to save your progress, within the Actions ribbon group click on the Save button.
7. Within the Exchange Rate pane, complete the following fields, all fields are required to be completed before continuing:

• • Exchange Rate – type in the current rate of exchange to the dollar, for example 1.25 means that $1.2500 is equal to 1,0000 Euro. The complete exchange rate will appear in the Example pane so you can verify the rate.
  • Starting Date – click on the field to access drop-down arrow, once clicked a calendar displays. From the calendar, select the starting date for the rate. To change the month and year click the right or left arrow, and once at the appropriate month and year, click the number to select the date. The date populates in the box.
  • Conversion Direction – click on the dropdown arrow to access a menu from the menu select one of the following options:
    • To (system to foreign) – the is the default direction and will change imported invoices from the dollar to the foreign currency
    • To (foreign to system) – this does the opposite and will change the imported invoices from the foreign currency to the dollar

8. Once all the fields are complete you can save the exchange rate, within the Actions ribbon group click on the Save button to continue working or the Save & Close button to return to the list.