Overview:

In Zumzum Financials, each currency used requires its own Currency Rate record. You can set a single Currency Rate with a future date or update rates daily. To add a new currency rate, navigate to the Setup tab and select the Company Setup icon. Find and select the desired Currency in the related list. In the Currency Rate related list, either edit an existing record or create a new one. Enter the target currency, the conversion rate, the start date, and the end date for the rate. Finally, save the new currency rate record to apply it to future transactions. This process ensures accurate currency conversion and financial management.

How to Add a New Currency Rate for a Currency

Every currency you wish to use in Zumzum Financials will have its own Currency Rate record related to the Currency Record. You may add a single Currency Rate with a date far in the future, or you may add a new Currency Rate every day.

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

1. Go to Setup(Zumzum) tab
2. Select Company Setup icon
3. Go to the related lis and find the Currency.
4. Click in the Currency Name.
5. In the related list find the Currency Rate related list
6. Either click Edit against the existing record or click New
7. Enter the Currency to field to select an existing currency you wish to convert to (this should be setup in the system already)
8.  Enter the Rate you wish to apply to this currency conversion
9. Enter the Start Date that you wish to apply this currency conversion rate, to new transactions
10. Enter the End Date that you wish to apply this currency conversion rate, to new transactions
11. Click Save to create your new currency rate record.

Learn more about Multi Currency Settings in Zumzum Financials. Use multiple currencies for cash, sales, and purchasing transactions in Zumzum Financials.