Setting up Currencies

How to add currencies and set up exchange rates?

Raili Vunk avatar
Written by Raili Vunk
Updated over a week ago

Insly has multi-currency support, which means that you have the possibility to work with several currencies.

Add a currency 

If you want to add a currency, go to your "System management" and click on "Currencies". To add a currency, simply click on the "+" sign.

You are presented with a wide variety of different currencies. Choose the one you would like to add and click on "Save". 

Main currency

Insly aggregates all stats and reports to your main currency. The main currency in the system is the first one in the list of your currencies in the system. 

If you would like to change the main currency, you can use the arrows to move currencies around.

Currency exchange rates

Additionally, for the system to be able to use multiple currencies in reports and other necessary places, you also need to add the exchange rates between the currencies you are using.

Exchange rates can be added from "Currency exchange rates" menu in your System Management. To add an exchange rate, click on the "+" sign. 

From there, you need to specify the currencies. The "Date" field specifies from what date this value is valid. Additionally, you should enter the rate and click on "Save". 

That's it!

Note: When using multiple currencies, the currencies conversion rates must be added both ways for the functionality to work correctly - for example, from EUR to USD and also from USD to EUR!

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