Currencies

You can set up your site's currencies under Settings > Sales and Finance > Currencies. Currencies can be created, modified and deleted by users with the appropriate permissions.

Select the currencies you wish to use on sales and purchase documents. 

Also select, which of those is the default currency used on the documents created on your site. You can still modify the currency on the document while creating it. 

The site's default currency is also the default currency for new users added to your site. Each user can change the currency displayed in their site by going to My settings > Preferences. 

Currencies are updated automatically every day at 6 p.m. according to Euro foreign exchange reference rates (ECB). It's also possible to use yesterday's rate, in which case the previous day's currency rates are used until 00:00.  

You can also add currencies manually by clicking New rate, in this case, you are in charge of updating the rates. Manual currencies come in handy if you use one or more of the less common currencies in your business.

You can change existing currency rates manually under Currency rates. Drag the cursor to the currency line you'd like to change and click Modify.  

If needed, you can change your site's base currency by clicking Base currency and selecting the desired currency. This might be needed, for example, if your company uses multiple different currencies (and maybe even different company accounts). Note, that changing the base currency will automatically trigger the recalculation of all finance documents using that currency. This does not affect the display currency shown on all your documents. The changes will take about 10 minutes to take effect. Also, it is important not to make any changes to any of the finance documents in your Scoro account during that time.