Work in a second currency

The steps

Find it

1. Exchange rates live in Settings. Tap Search anything…, type sett and tap Settings under "Go to". It is also the last item in the menu.
2. Tap the Localisation tab: your base currency, how dates and numbers are written, and your exchange rates.

Keep your rates current

1. Currency at the top is the currency your books are kept in. It is fixed once anything has been posted, so set it on your first day.
2. Under Exchange rates, each currency shows its rate against the rand, where the rate came from and how old it is.
3. Tap Refresh rates to fetch today's published rates. Any rate you entered by hand is kept.

Scenario: your bank used a different rate

1. Scroll down to Enter a rate yourself. Under Three-letter code, e.g. USD is where the currency goes: in Currency, type USD.
2. In 1 USD buys, in ZAR, type 18.95, then tap Save rate. The dollar's rate is now marked as entered by hand.
3. To go back to the published rate later, tap Use the published rate again beside it.

Scenario: a customer abroad pays in their own currency

1. In Invoicing & Quotes, tap New Document and choose Tax Invoice.
2. Tap Search client…, type Nordic and pick Nordic Systems AB. Their currency, the euro, is set on the invoice by itself.
3. Under EXCHANGE RATE, Ledgr fills in the rate on file and says where it came from. Type over it if your bank quoted another.
4. Tap Continue to add the lines and carry on as for any invoice. The rate is stored on the invoice and converts it into rands for your reports.

More detail is in the guide.

Check yourself

1. You pick a customer whose contact record is kept in euros. Which currency is the new invoice in?

   • Euros, set by itself from the customer's record
   • Rands, until you change your base currency
   • Whichever currency you invoiced in last
   Show the answer

   Euros, set by itself from the customer's record

2. You typed a rate by hand, then tap Refresh rates. What happens to your rate?

   • It is kept and stays marked as entered by hand
   • It is replaced by the published rate
   • It is deleted and must be typed again
   Show the answer

   It is kept and stays marked as entered by hand

3. You have already posted invoices and want to change your base currency. What happens?

   • Ledgr converts all your books at today's rate
   • The change applies from next month
   • Ledgr refuses the change once anything has been posted
   Show the answer

   Ledgr refuses the change once anything has been posted