Foreign Currencies

This article explains how to manage foreign currencies in Qoyod: adding a currency, assigning it to Customers and Suppliers, and editing exchange rates on sales Invoices and bills of exchange.

Path in Qoyod

Settings › Foreign Currencies

Add a new foreign currency

1. From the “Settings” dropdown, select “Foreign Currencies”.
2. Click “Create currency” at the top left of the page.
3. Select the currency from the list.
4. Set the realized and unrealized gains and losses account.
5. Enter the exchange rate of the base currency against the foreign currency and vice versa.
6. Click “Save”.

Actions available on a currency

• View: to review the currency details, previous exchange-rate edits, and related documents.
• Edit: to edit the realized and unrealized gains and losses account.
• Edit rate: to update the exchange rate.
• Delete: available only if the currency has not been used in any operations.

Assigning currencies to contacts

• You can assign specific foreign currencies to Customers and Suppliers.
• When creating a sales or purchase Invoice for the Customer or Supplier, the system automatically assigns the currency dedicated to them.

Editing exchange rates

The system supports editing exchange rates when creating sales Invoices and bills of exchange, based on the actual rate at the time of the transaction. The gain or loss difference is calculated automatically.