Overview:

In Zumzum Financials, each company can operate with its own trading currency, while all corporate reports are consolidated into an initial Base Currency. To add a new currency for a company, navigate to the Setup tab and select the Company Setup icon. Then, go to the Related tab and locate the Currency section. Click “New,” select the currency ISO Code from the dropdown list, ensure the Currency Name is auto-filled, activate the currency by ticking the Active box, and click Save.

How to add a new currency for each company you operate in Zumzum Financials

There is an initial Base Currency that is used in Zumzum Financials that all corporate reports rollup into.   Each Company that you manage in Zumzum Financials can have it’s own trading currency.

Every transaction in the system will contain:

• Amounts in Base Currency
• Company Amounts in Company Currency
• Foreign Amounts in the Transaction Currency

To add a new currency for a Company, please follow these steps:

1. Go to Setup(Zumzum) tab
2. Select Company Setup icon
3. Go to the Related tab and find the Currency.
4. Select New under the Currency  section.
5. Select the currency ISO Code from the drop down list
   • The Currency Name will have auto selected
6. Tick the Active box to activate your new currency
7. Click Save to create your new currency record.

Note:  Please ensure you enter a Currency Rate and assign the currency to your Company you wish to utilise this currency with.