How to Set Up the Currency Exchange Rate in Got2

Managing Multi-Currency Exchange Rates in Got2

Module: Accounting Applies to: All Companies using Multi-Currency

Overview

Got2 supports selling in multiple currencies. When your products are priced in one currency (e.g. USD) and your customers are billed in another (e.g. SRD, EUR, GBP), Got2 automatically converts the amounts using the exchange rate you configure.

This guide explains how to set up and maintain exchange rates in your system.

Prerequisites

Before managing exchange rates, ensure the following is configured:

1. Multi-currency is enabledAccounting → Configuration → Settings → Currencies → enable Multi-Currencies
2. Required currencies are activeAccounting → Configuration → Currencies  — ensure all currencies you use are set to Active
3. Company currency is set correctlySettings → Companies → Your Company → Currency  This is your base currency — all other currencies are measured against it.

How to Add or Update an Exchange Rate

Step 1 — Open Accounting Module

From the main menu, click Accounting.

Step 2 — Navigate to Currencies

Go to Configuration → Currencies.

Step 3 — Open the Foreign Currency

Click on the currency you want to update (e.g. USD, EUR, GBP).

Note: Your company's base currency does not have a Rates section — rates are always configured on the foreign currency.

Step 4 — Add a New Rate

1. Click the Rates button
2. Click Add a line
3. Fill in the following:

Step 5 — Save

Click Save.

Example: USD to SRD

Scenario: Company base currency is SRD. Products are priced in USD.

• Open USD in the currencies list
• Click Rates → Add a line
• Enter today's date
• Enter 37.06  in the SRD per Unit column (meaning 1 USD = 37.06 SRD)
• Save

Result on Sale Order:

Product price: $70.00 USD Exchange rate: 37.06 Customer is billed: $2,594.20 SRD

How Got2 Applies Exchange Rates

• Got2 uses the most recent rate on or before the transaction date
• If no rate is set for today, Got2 automatically falls back to the last saved rate
• No error occurs if the rate is outdated — the last known rate is always used

How Often Should I Update the Rate?

There is no system requirement to update daily. Update based on how much the exchange rate fluctuates and how sensitive your pricing is.

Automatic Rate Updates (Optional)

Got2 can automatically fetch exchange rates from external providers:

Accounting → Configuration → Settings → Currencies → Automatic Currency Rates

• Select a provider (e.g. European Central Bank)
• Set frequency (daily, weekly, monthly)

Note: Free providers support major currencies only (USD, EUR, GBP, etc.). Less common currencies (e.g. SRD, TTD) must be updated manually.

Frequently Asked Questions

Q: Why don't I see a Rates section on my company currency? The base currency is the reference point — rates are always set on other currencies relative to it.

Q: Can I add a rate for a future date? Yes. Got2 will apply it automatically once that date is reached.

Q: The prices on my Sale Order look wrong — what do I check? Go to Accounting → Configuration → Currencies, open the relevant currency, and verify the latest rate is correct and up to date.

Q: Where can I find the current exchange rate? Search "1 [currency] to [currency]" on Google (e.g. "1 USD to SRD") for the latest market rate.

Q: Who can update exchange rates? Any user with access to the Accounting module.

For further assistance, contact your Got2 administrator or support team.