The Exchange Rates admin tool enables you to set the Exchange Rates that CMap should use for each Currency that has been added into your CMap instance. Exchange Rates will then be used to convert values (such as invoices and expenses) where appropriate. The Exchange Rates admin tool can also be used to update historic Exchange Rates and amend the effective date of changes to Exchange Rates.
In this article, you’ll learn how to:
- Add a new Exchange Rate
- Edit and Exchange Rate
Add a new Exchange Rate
1. From your Dashboard, head to the Finances tab. Under the heading CURRENCIES & FX RATES click Exchange Rates.
2. Select the Currency you wish to enter the Exchange Rate for from the drop-down menu.
3. All the Exchange Rates you have available in your instance of CMap will be listed, with the exception of Default System Currency, with a box to capture the conversion Rate against your default currency.
4. Click the button. A pop-up box will appear.
5. Here, you can enter your desired exchange rate into the New Rate box.
6. Click Save.
Changes to exchange rates are time-stamped, so only costs entered from the moment you click Save will be calculated at the new exchange rate.
Edit Exchange Rates
Should you need to edit an exchange rate, simply find the rate you would like to change and select the icon.
You can then edit the rate and when you are ready, click Save.
Hopefully you can now add new Exchange Rates and also edit any existing rates that you have in the system. They will then be used to convert values (such as invoices and expenses) where appropriate.