We have multiple currencies that will be reflected based on the User’s currency and it converts any type of currency into Base Currency based on the conversion.
Currency List page:
Name: Currency name.
Symbol: Currency symbol.
Code: Currency code.
Rate: Currency rate based on Base currency.
Example: Base Currency is USD, the for INR –> 1 USD = 70 INR (Approx. because daily the currency rate is updating )
Status: Status of Currency, if it is Active then the currency is shown in the system.
Is Default: By selecting YES, then selected currency is Base Currency.
Create New Currency:
Go to Global Settings –> Currencies, Click on Add new then create the new currency based on your requirement. Make sure you add the valid currency ISO code. The currency ISO code will be used when sending the currency code to online payment gateways.
If this is your base currency you will need to select it as Default with a status of Active.
Changing the base/customer currency after recording the transactions is not possible.
Make Transactions other than Base currency:
There is only one option where the currency is change and it is possible when creating new Invoice, Quotes, Recurring Invoices, Proposals, Contracts, Credit notes, Cart orders and Purchase Orders.
And also, If you need to make the transaction with a different currency for the different customer you need to set the customer currency in the Contacts creation page.
Example: Creating new invoice and select the customer, the currency will be auto changed based on the currency you have given for this customer.
For all future transactions for Contacts, the currency of the contact will be auto-selected.
We have a field with Update Currency Exchange Field, if it is Yes then it can be updated.
Finally, we can Update all the Currencies at any time based on the Currency rate is going on through the API key.
If the customer has already recorded transactions then you cant be able to change the currency. In that case you should delete all previous transactions to change the currency, once the transaction is recorded ability to change the customer currency will be disabled.