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Every tenant has one base currency — the currency your accounting reports (Trial Balance, Profit & Loss) are always shown in. A Currency record registers any other currency you might deal with — a foreign supplier who bills in USD, for example. You only need this if you actually transact in more than one currency; if everything you buy and sell is in your local currency, you can skip this page entirely.
Currencies list showing MYR and USD

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Currency Fields

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Create a Currency

1

Go to Retail → Currencies

Under Retail — Masters.
2

Click New Currency

Enter the Code, Name, Symbol, and Decimal Places.
3

Save

The currency is now selectable on Parties, Purchase/Sales Invoices, and Payments.
4

Add an Exchange Rate

A currency alone doesn’t let documents convert amounts — you also need at least one Exchange Rate between it and your base currency.

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Frequently Asked Questions

No — your base currency is set once in your tenant’s accounting settings and doesn’t need a Currency record of its own. Only register foreign currencies.
The document will fail to submit — you’ll need to add an Exchange Rate for that currency (as of that document’s date) first.

Exchange Rates

Set the conversion rate for this currency

Party

Assign a default currency per supplier/customer

Purchase Invoices

Create a foreign-currency invoice

Overview

Back to the module overview