Exchange rates and multiple currencies

Quotes and invoices can be in any currency. With multiple currencies switched on, Transportial converts the amounts to the base currency of each administration, so revenue and cost figures, the ledger and the Financial management dashboard add up in one currency.

Choose the base currency of an administration

1. Open the side menu (☰) and choose Administrations.
2. Click Edit on the administration.
3. Choose the currency in Base currency. Leave it empty to use the platform currency.
4. Click Save.

Decide how rates are picked

1. Open Settings > Environment and expand Financial.
2. Under Exchange rates, leave Fetch missing rates from the ECB on to use the euro reference rates of the European Central Bank when you have no rate of your own.
3. In Rate date, choose which date picks the rate: Invoice date (the default), Booking date or Delivery date (the last date of the invoice lines' periods).
4. In Use the last known rate for up to this many days, set how old a rate may be, for example over weekends and holidays (0 to 31, default 7).
5. Click Save.

Add your own rates

1. Open Settings and click the Variables tab.
2. Go to Exchange rates.
3. Choose the From currency and the To currency, enter the Rate (1 unit of the first currency in the second) and the date.
4. Click Add rate.

The list shows every rate with its Date and Source (Manual or ECB). Use Filter by currency to find a pair, and Remove on a row to delete a rate. Your own rates always win over ECB rates.

What you see on an invoice

An invoice in another currency than its administration's base currency shows two extra rows under the totals: the Base amount and the Rate, for example 1 USD = 0.92 EUR with the rate date and source. The rate is updated while the invoice is a draft and frozen when it is sent. When no rate can be found, the invoice is saved unconverted and converted later, at the latest when a report needs it.