Setting up Currencies in SFM
In SFM, you can configure foreign currency exchange rates, enabling the system to automatically calculate foreign invoices based on predefined rates.
To set up exchange rates, follow these steps:
1. Navigate to Support > Currencies
2. Add a New Currency.
Click the + icon on the left. Enter the following details:
- Code
- Name
- Rate
- Selling Rate
- Buying Rate
SFM uses only the Rate field for calculations. The Selling Rate and Buying Rate are for reference purposes.
3. Post Historical Rates (Optional but Recommended).
After clicking Post, go to the Rates tab. Here, you can add historical exchange rates for previous dates. This ensures that any back-dated invoices are calculated using the correct rate.
When posting an invoice, the system will automatically select the closest available rate. However, users can manually adjust the rate for added flexibility.
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