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Currency management
Published On Jul 08, 2024 - 9:44 AM

Currency management

Learn how to set up the Corporate Currency and the conversion rate.
On the
Currency management
page, you can set up your corporate currency, and view and manage your conversion rate. These are presented in two different tabs:
Currency setup
and
Conversion rate
as explained in the following sections.

Currency setup

The
Currency setup
tab lists all of the currencies that you can select from.
The list includes the following columns:
Title
,
To Currency
and
Conversion rate
.
If you cannot find a currency, you can use the
Search
field to the top right of the table.
You get a message at the top of the page indicating “Please confirm the corporate currency for this tenant: For this tenant, the corporate currency is the US dollar ($) (default). You can confirm this or change the Corporate Currency.”
To configure a currency:
  1. Select the radio button next to it. When you have made your selections, click
    Confirm
    at the bottom of the page, or
    Cancel
    to clear your selections and start over.
  2. Once set, you get a message saying “Are you sure? Once the corporate currency is set for this tenant, it cannot be changed."
  3. Select “I understand I want to set corporate currency as “x” for this tenant.” and then click
    Yes
    or
    No
    .
  4. After the Corporate Currency has been set, you get a success notification, and the Corporate Currency details such as the
    Country
    ,
    Currency name
    , and
    Currency code
    .
  5. You also see a message that says "You have selected to use this tenant corporate currency i.e. US dollar ($) as corporate currency for all future customer tenants." To edit the currency, click the
    Edit
    button below this message.

Conversion rate

The Conversion rate tab is where you can convert the existing currency to any other supported currency.
The Conversion rate page presents a table with all yoru currencies. The following details are presented for each currency:
  • From Currency:
    Original currency.
  • To Currency:
    Converted to currency.
  • Conversion Rate:
    Value of one currency converted or exchanged to another currency.
  • Start Date:
    Date that the currency conversion begins.
  • End Date:
    Date that the currency conversion ends.
  • Last Updated by:
    Most recent role that updated the currency conversion.
  • Last Updated on:
    Most recent currency conversion date.
If you click the
Actions
icon, you are presented with two options to take on the currency:
Edit
and
Delete
. When you delete a currency, you get a confirmation message in which you can select
Delete
or
Cancel
to stop the deletion process.
At the top of the page, you can select what information to display in the table by clicking and selecting information from the following filters:
  • From Currency:
    Original currency.
  • To Currency:
    Converted to currency.
  • Date range:
    When the conversion will begin and end.
  • Start time:
    The time when the conversion will start.
  • End time:
    The time when the conversion will end.
For the complete list of supported currencies, see Default Tenant Supported Currencies.
At the bottom of the table, you can select the number of items per page you want to display, and switch between pages.
To do this, click the
Add conversion rate
button. The process and steps to complete, are explained as follows.

Add new conversion rate

To add a currency conversion rate, perform the following steps:
  1. Click
    Add Conversion Rate
    in the upper right side of the screen to go to the
    Add Conversion Rate
    page.
  2. Select the From and To currencies from the corresponding drop-down lists by clicking the down arrow to expand the list. The only currencies available are the Default supported currencies.
  3. Click the selected currency.
  4. Type the current
    conversion rate
    in the corresponding text box. You can add a conversion rate with up to eight decimal points.
  5. Select
    Start
    and
    End
    dates by clicking the calendar icon and choosing a date from the calendar. Scroll back and forth between months by using the left and right arrows at the top of the calendar.
  6. Select
    Start
    and
    End
    times by clicking the box and entering the data.
  7. Click
    Add
    to save the new conversion rate, or to start over click
    Cancel
    . If the conversion rate already exists, the message
    Duplicate Currency Conversion Rate
    appears. Click
    OK
    to close the window and return to the Add Conversion Rate screen without saving the new conversion rate.
When you have made your conversion rate selections, click
Add
to add the new conversion rate, or
Cancel
to clear your selections.
After you create the new conversion rate, you can see the details such as:
  • Last Updated by:
    The user who updated the conversion rate.
  • Created by:
    The user who created the conversion rate.
  • View history:
    The user who created the conversion rate, and the date and time when it was created.
  • View details:
    Conversion rate details to display.
For more information on currency conversion, see Currency conversion.
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