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Currency Rates

Currency Rates

Purpose

The Currency Rates screen allows administrators to manage exchange rates used within the Purchase module. The system supports both manual and automatic currency rate updates and maintains a history of exchange rate changes for auditing and reporting purposes.

Currency rates can be updated manually or retrieved from online sources, while the Currency Rate Logs feature records all exchange rate update activities.

View

To access Currency Rates:

Step 1

Navigate to Settings within the Purchase Module from the left sidebar.

Step 2

Select Currency Rates.

The system displays the Currency Rates configuration screen with the following tabs:

  • General

  • Currency Rate Logs

General Tab

Purpose

The General tab is used to configure automatic currency rate updates, manage exchange rates, and define log retention settings.

Configure Currency Rates

Step 1

Navigate to Settings → Currency Rates → General.

Step 2

Configure the required settings.

Step 3

Click Save.

The updated configuration becomes effective immediately.

Field Descriptions

Field Description
Maximum Number of Storage Days Defines the number of days currency rate logs are retained before automatic deletion.
Automatically Get Currency Rates Automatically updates exchange rates from the online source every day at 6:00 PM and records the update in the Currency Rate Logs.
Get Online Currency Rates Retrieves the latest available exchange rates from the configured online source immediately.
Currency Rate The exchange rate value assigned to a currency pair.

Workflow Rules

Maximum Number of Storage Days

  • Currency rate update logs are retained for the configured number of days.

  • Logs older than the configured retention period are automatically removed at the beginning of the next day.

  • If the value is set to 0, automatic log cleanup is disabled.

  • When disabled, currency rate logs remain stored indefinitely until manually removed.

Automatically Get Currency Rates

Enabled

  • The system automatically retrieves exchange rates every day at 6:00 PM.

  • Updated rates are stored in the Currency Rate Logs.

Disabled

  • Currency rates are not updated automatically.

  • Updates must be performed manually.

Get Online Currency Rates

When clicked:

  • The system retrieves the latest available online exchange rates.

  • Retrieved rates are immediately updated in the system.

  • The update is recorded in the Currency Rate Logs.

Manual Rate Updates

  • Users can manually modify currency rates.

  • Hover over the currency rate record and click Edit.

  • Update the exchange rate value.

  • Click Save to apply the changes.

Online Exchange Rate Source

Currency rates are retrieved from:

Google Finance Exchange Rate Services

The system uses online exchange rate data to update currency conversion values.

Currency Rate Logs Tab

Purpose

The Currency Rate Logs tab maintains a history of exchange rate updates performed by the system or users.

This information provides traceability, auditing, and historical exchange rate analysis.

View

The Currency Rate Logs tab displays:

  • Update Date and Time

  • Currency Information

  • Previous Rate

  • Updated Rate

  • Update Source

  • User Information

  • System Update Records

Workflow Rules

  • Every currency rate update is recorded in the log.

  • Both manual and automatic updates generate log records.

  • Log retention follows the Maximum Number of Storage Days configuration.

  • Historical records may be automatically removed according to the retention policy.

Synchronization

Currency Rate data is synchronized with:

  • Purchase Requests

  • Purchase Quotations

  • Purchase Orders

  • Purchase Invoices

  • Vendor Transactions

  • Multi-Currency Transactions

  • Financial Reports

  • Currency Conversion Processes

Permissions

Permission Description
View Allows users to view currency rates and logs.
Edit Allows users to update exchange rates manually.
Manage Settings Allows users to configure automatic currency rate updates and retention policies.

Important Notes

  • Automatic currency rate updates occur daily at 6:00 PM when enabled.

  • Setting the Maximum Number of Storage Days to 0 disables automatic log cleanup.

  • Manual rate updates immediately affect future currency conversion calculations.

  • Currency Rate Logs provide a complete history of exchange rate updates for auditing purposes.

  • Online exchange rates are dependent on the availability of the configured exchange rate provider.

  • Historical exchange rate logs may be automatically deleted according to the configured retention policy.

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