Currencies
Your books are kept in the base currency. If you also invoice customers or receive bills in other currencies, add those currencies and their exchange rates here.
Open Settings›Currency. The In Use tab lists the currencies your company uses. The Currencies tab is the full list of world currencies.
Add a currency
- On the In Use tab, click New.
- Choose the Currency, for example
USD. - Enter the Exchange Rate: how much one unit of this currency is worth in your base currency. For example, with SAR as the base currency, enter
3.75for USD. - Click Save. The list shows the rate next to the currency. The base currency is marked Base and always has a rate of 1.
Update a rate
Select the currency, change the Exchange Rate and save. The new rate is used for new documents. Documents that were already saved keep the rate they were saved with.
On a document in a foreign currency, Fiscal fills in the rate from this list. You can change the rate for that document only, and fetch the current market rate, in the exchange rate box next to the customer or vendor.
Remove a currency
Select it and click Remove. Remove only currencies you no longer use.
When a customer pays a foreign-currency invoice at a different rate, the difference is posted to the Currency Exchange Gain/Loss account set in Preferences › Default Accounts.