How to manage exchange rates

When to manage exchange rates

You should manage exchange rates when:

• Purchasing from international suppliers
• Working with multiple currencies
• Ensuring accurate cost calculations

Keeping exchange rates updated helps maintain correct financial data.

Access exchange rates

Follow these steps:

1. Go to Purchasing → Exchange Rates
2. View existing exchange rates
3. Add or update rates as needed

Add or update an exchange rate

To manage exchange rates:

• Select the relevant currency
• Enter the exchange rate
• Set the effective date (if applicable)
• Save the changes

Make sure rates reflect current values.

How exchange rates are used

Exchange rates are applied when:

• Creating purchase orders in foreign currencies
• Managing invoices from international suppliers
• Tracking costs in your base currency

This ensures consistent financial reporting.

Why exchange rates matter

Managing exchange rates helps you:

• Maintain accurate cost tracking
• Avoid pricing discrepancies
• Support financial reporting
• Ensure consistency across purchasing