Watch a video about currency management in Uniconta here. Exchange rates are described from minute 0:00. Own rates are presented from minute 3:00.
If you trade in foreign currency, it is useful to be able to enter amounts in foreign currency and have it automatically converted to the current exchange rate. This way you can easily keep track of what you have traded for in foreign currency and standard currency. It's easier to search for amounts in currency rather than having to convert. It's also easier to register payments in the current currency to match the invoice amount in the current currency rather than having to convert again. Sales prices are often "skewed" when converted to foreign currencies. This problem is easily solved by setting the price of an item in foreign currency if you often sell goods abroad. This gives you nicely rounded prices on foreign currency invoices.
Setting up your own currency
Uniconta updates exchange rates automatically based on the list from the European Central Bank.
If there is a currency that does not exist in this update, it can be set up in Uniconta as follows.
Go to Company/Maintenance/Currency/Set up exchange rates
Click "Add exchange rate" and in the lines that are inserted, select a currency in the CCY1 field and the new currency in CCY2.
The rate between the two courses is calculated by 1 CCY1.
As in line two where CCY1 is DKK and the rate for 1 DKK is 0.2628 in BAM
Save the exchange rates and it is now possible to select BAM in e.g. the draft in the currency field.
Custom currency rates can handle up to 10 decimal places.
The rate applies from the date entered until a new rate is entered or the line is deleted.
Deleting a set exchange rate does not change the booked entries. The next booked entry will use the actual exchange rates.
For more information:
Currency codes and rates. Fixed If you want a specific exchange rate between two currencies or use a currency that does not update automatically, you can set up the exchange rate here:
If you post back in time, the exchange rate for the specified date is used.
Default currencyConversions are made in relation to the default currency selected when you created the accounts. You can find the default currency under Company/Company details.
Setting up your own currency
Uniconta updates exchange rates automatically based on the list from the European Central Bank.
If there is a currency that does not exist in this update, it can be set up in Uniconta as follows.
Go to Company/Maintenance/Currency/Set up exchange rates
Click "Add exchange rate" and in the lines that are inserted, select a currency in the CCY1 field and the new currency in CCY2.
The rate between the two courses is calculated by 1 CCY1.
As in line two where CCY1 is DKK and the rate for 1 DKK is 0.2628 in BAM
Save the exchange rates and it is now possible to select BAM in e.g. the draft in the currency field.
Custom currency rates can handle up to 10 decimal places.
The rate applies from the date entered until a new rate is entered or the line is deleted.
Deleting a set exchange rate does not change the booked entries. The next booked entry will use the actual exchange rates.
