Currency
Last updated: 2026-03-29
Currency
The Currency module allows you to define and manage all the different currencies your business uses for sales, purchases, and accounting. By setting up currencies correctly, you ensure that invoices, receipts, and financial reports display the exact symbols and decimal formats you need.
When Do I Use This?
- When setting up the system for the very first time to establish your company's home currency.
- When your business begins selling to customers in a new country and needs to issue invoices in their local currency.
- When purchasing materials from overseas suppliers who bill you in a foreign currency.
How To Use
Adding a New Currency
- Navigate to the Financials or Settings section from the main menu, then select Currencies.
- Click the + New button.
- Type in the full Name of the currency (e.g., Euro).
- Enter the 3-letter Code (e.g., EUR) and the Symbol (e.g., €).
- Define the Rounding Factor and the number of Digits for decimal places.
- Click Save to make the currency available across the system.
Field Descriptions
| Field Name | Description |
|---|---|
| Name | The full, descriptive name of the currency (e.g., "US Dollar", "British Pound", "Japanese Yen"). |
| Code | The standard 3-letter international abbreviation for the currency (e.g., "USD", "GBP", "JPY"). |
| Symbol | The graphical symbol used on printed documents like invoices and receipts (e.g., "$", "£", "¥"). |
| Rounding Factor | How the system should round fractional amounts. For standard penny rounding, use "0.01". If your lowest physical coin is 5 cents, you might use "0.05". |
| Digit | The number of decimal places to display. This is usually "2" for most currencies, but some (like the Japanese Yen) use "0". |
Tip: Always use the official 3-letter ISO code (like USD, EUR, or AUD) in the Code field. This keeps your records standard and helps if you later use automated exchange rate updates or bank feed integrations.