How to Use Currencies

Overview

If you sell or purchase goods and services in different currencies, you can set up multiple currencies in simPRO.

When a customer / supplier is assigned a foreign currency, all forms sent to them use that foreign currency. In your simPRO reports and in job pricing only your local currency is displayed according to the predefined exchange rate.

The following accounting packages can use multiple currencies:

  • Xero
  • QuickBooks
  • Reckon / QuickBooks Desktop
  • MYOB Desktop
  • Sage

In order to view content or perform actions referred to in this article you need to have the appropriate permissions enabled in your security group. Go to System > Setup > Security Groups and access your security group to update your permissions. The relevant security group tab and specific permissions for this article can be found here:

Currencies

Australian Dollar AUD $
Aruban Florin AWG Afl.
Bahamian Dollar BSD B$
Barbadian Dollar BBD Bds$
Bolivian Boliviano BOB Bs
Brazilian Real BRL R$
British Pound Sterling GBP £
Burundian Franc BIF FBu
Canadian Dollar CAD $
Cayman Islands Dollar KYD $
Chilean Peso CLP $
Chinese Yuan CNY ¥
Colombian Peso COP $
Costa Rican Colón CRC ₡
Cuban Peso CUP $
Danish Krone DKK kr.
East Caribbean Dollar XCD $
Euro EUR €
Guyana Dollar GYD $
Haitian Gourde HTG G
Hong Kong Dollar HKD $
Indian Rupee INR ₨
Indonesian Rupiah IDR Rp
Israeli Shekel ILS ₪
Jamaican Dollar JMD $
Japanese Yen JPY ¥
Kenyan Shilling KES KSh
Malaysian Ringgit MYR RM
Mexican Peso MXN $
Netherlands Antillean Guilder ANG NAƒ
New Zealand Dollar NZD NZD $
Nigerian Naira NGN ₦
Norwegian Krone NOK kr
Pakistani Rupee PKR Rs
Paraguayan Guarani PYG ₲
Peruvian Sol PEN S/
Polish Zloty PLN zł
Rwandan Franc RWF FRw
Singapore Dollar SGD $
South African Rand ZAR R
South Korean Won KRW ₩
South Sudanese Pound SSP £
Surinamese Dollar SRD $
Swedish Krona SEK kr
Swiss Franc CHF CHF
Tanzanian Shilling TZS TSh
Thai Baht THB ฿
Trinidad and Tobago Dollar TTD $
Turkish Lira TRY ₺
Ugandan Shilling UGX USh
United Arab Emirates Dirham AED AED
Uruguayan Peso UYU $
US Dollar USD $
Venezuelan Bolívar VEF Bs.F.
Vietnamese Dong VND ₫
Guatemalan Quetzal GTQ Q
Russian Ruble RUB ₽

You need to enable multiple currencies to use them in simPRO.

A screenshot of the Multiple Currencies options.

To enable currencies:

  1. Go to System A screenshot of a schedule icon with a grey calendar icon and an arrow. > Setup > Defaults > Financial.
  2. Under Multiple Currencies, select On.
  3. Click Save.
  4. Click System Setup > Security Groups.
  5. Click the security group/s assigned to the employees for whom you wish to enable multiple currencies.
  6. In the group, go to Permissions > Setup > System, then select the Currencies check box.
  7. Click Save and Finish.

In the System Setup tab, the Currencies option is now available.

A screenshot of a currency being added.

To add a currency:

  1. Go to System A screenshot of a schedule icon with a grey calendar icon and an arrow. > Setup > System Setup > Currencies.
  2. Select a currency from the Available Currencies drop-down list.
  3. Click Add.
  4. Click Save and Finish.

Currencies added are listed alphabetically.

The exchange rate shown is the conversion value from the international currency to your default currency. The live exchange rates are provided by xe.com.

For example, if AUD is your default currency and GBP is added to the currency table, the exchange rate displayed would be 1 GBP to 1 AUD.

To update the exchange rate:

  1. Go to System A screenshot of a schedule icon with a grey calendar icon and an arrow. > Setup > System Setup > Currencies.
  2. Click the blue refresh icon in the Exchange Rate column.
  3. Alternatively, enter the Exchange Rate manually.
  4. Click Save.

To delete a currency:

  1. Go to System A screenshot of a schedule icon with a grey calendar icon and an arrow. > Setup > System Setup > Currencies.
  2. Click the A delete icon with a red circle and a white minus symbol. icon on the currency you wish to delete.
  3. Click OK.

If you delete a currency that has been assigned to a customer, supplier, or catalogue item, the value of any associated transactions no longer display in that currency.

A screenshot of a currency being assigned to a supplier.

To assign a currency to a customer, contractor or supplier:

  1. Access the customer / supplier / contractor.
  2. Go to Profile > Settings.
  3. Select a Currency from the drop-down list.
  4. Click Save and Finish.

You can also enter prices in multiple currencies for catalogue items.

Note that you must add multiple currencies to a catalogue item before you are able to add suppliers that use the relevant currency.

Once you have selected the supplier's currency, you cannot change it if you have:

  • raised a purchase order for the supplier
  • raised a supplier quote for the supplier
  • selected the supplier in a catalogue item.

US only: If you use simPRO in the United States, the term 'vendor' is used instead of 'supplier'.

Make sure that all the right currencies are also enabled in your accounting package.

Transactions that are sent through the accounting link are sent as foreign currencies, and then converted to your local currency in the accounting package.

If you use multiple currencies in simPRO in the United Kingdom, you can choose to display the exchange rate on quote, job and invoice forms.

To show or hide the exchange rate:

  1. Go to the Forms tab.
  2. Click Quote / Job / Invoice.
  3. Under Show Exchange Rate, select On to display the exchange rate, or Off to hide it.
  4. Click Save.