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Version: Current

Configuring the Currency Conversion Extension

Handling transactions in different currencies is simple with Zudello's Currency Conversion extension. This guide explains how to enable and configure this feature, allowing users to easily convert amounts based on exchange rates.

Best practices​

  • Ensure the currency field is enabled on the relevant Document Type forms where conversion is needed.
  • Set a default Team Currency in your Team Settings for accurate base conversions.
  • Advise users to review exchange rates applied, especially if they manually override the system-suggested rate.

Understanding Currency Conversion​

The Currency Conversion extension adds a component next to the currency field on transaction documents. When enabled, it allows users to convert the transaction total to the team's local currency.

Zudello determines the exchange rate by:

  1. Comparing the Currency set on the Transaction with the Currency set for the Team.
  2. If a Date Issued is present on the transaction, Zudello fetches the historic exchange rate for that date.
  3. If no Date Issued is set, or the date is in the future, Zudello uses the latest available exchange rate.

The applied exchange rate (exchange_rate) and the date it was fetched (exchange_rate_at) are stored against the transaction. Users also have the option to manually override the suggested exchange rate directly on the document.

Enabling the Extension​

Currency Conversion is enabled per Document Type:

  1. Navigate to Settings via the company menu.
  2. Click Document Types in the left sidebar.
  3. Select the Document Type you want to enable currency conversion for (e.g., Purchase Invoice).
  4. Click Edit.
  5. Go to the Extensions tab.
  6. Find the Currency Conversion extension in the list.
  7. Turn on the toggle to enable the extension.
  8. Click Update to save the changes.

Repeat these steps for any other Document Types that require currency conversion functionality.

Using the Extension​

Once enabled, users processing documents with a foreign currency selected will see the currency conversion component. They can click this component to apply the conversion using the automatically determined exchange rate or manually enter a different rate before proceeding.

Need help?​

Contact your organisation administrator or Zudello support for assistance with configuring the Currency Conversion extension.