Guide Categories
Currencies
Work with multiple currencies for international business transactions.
Overview
The Currencies feature in Accounter enables you to work with multiple currencies in your business transactions. This is essential for businesses that operate internationally or deal with foreign suppliers and customers.
Note
Proper currency management ensures accurate financial reporting and compliance with international accounting standards.
Adding Currencies
To add a new currency:
- Navigate to the Settings tab
- Click on Currencies
- Click New Currency to add a currency
- Select the currency from the dropdown list or enter custom details
Exchange Rates
Accounter allows you to:
- Set custom exchange rates for transactions
- Update rates as market conditions change
- Maintain historical exchange rate records
- Generate multi-currency reports
Pro Tip
Exchange rates can be updated manually or set to automatically reflect current market rates for accurate reporting.
Best Practices
- Regularly update exchange rates to reflect current market conditions
- Maintain historical records for audit purposes
- Use consistent currency conventions across all transactions
- Document currency conversion policies
- Review multi-currency reports for accuracy
- Consider using automated rate updates for frequently used currencies