Currencies and exchange rates

Each subsidiary keeps its books in one currency, but you can invoice, buy and record journal entries in others. Add every currency you trade in, then record exchange rates, so a document in a foreign currency can be converted into the subsidiary’s currency when it posts.

Add a currency

1. Go to Finance ‣ Setup ‣ Currencies and click New currency.
2. Fill in Code and Name, for example USD and US dollar.
3. Enter a Symbol if you want one shown with amounts.
4. Set Decimal places, so amounts in this currency are rounded to the right precision.
5. Click Save.

Field	What it sets
Symbol	Optional — the code shows where the symbol is left empty.
Decimal places	How many decimals every amount in this currency is rounded to, on documents and in the ledger.
Active	Inactive currencies are hidden from transaction entry.

Record an exchange rate

A rate says how many units of one currency make one unit of another, from a given date. Record rates before you post documents in a foreign currency on those dates.

1. On Finance ‣ Setup ‣ Currencies, click Exchange rates, then New exchange rate.
2. Pick the Subsidiary the rate applies to, or Global (all subsidiaries).
3. Pick the From currency and the To currency.
4. Enter the Effective date and the Rate: one unit of From equals Rate units of To.
5. Click Save.

The rate shows in the Exchange rates list, and documents dated on or after the effective date use it.

Note

A recorded rate cannot be edited or removed, and a currency pair takes one rate per date. To correct a rate, record a new one with a later effective date.

When a document in a foreign currency states no rate of its own, Axon Suite looks up the rate:

• the latest rate on or before the document date wins;
• a rate recorded for the document’s subsidiary is used before a global one;
• when only the opposite pair is on file, for example SAR to USD for a USD document in SAR books, Axon Suite uses its inverse.

Example

A distributor keeping its books in SAR records From USD, To SAR, Rate 3.75 on 1 March. A USD invoice dated 10 March converts at 3.75. A EUR bill dated the same day finds no rate, so a EUR rate has to be recorded, or typed on the bill, before it posts.

Messages you may meet

Message	What to do
A rate for this currency pair on this date already exists.	Pick another date, or keep the rate on file.
No exchange rate from USD to SAR for 2026-03-10. (with the currencies and date of your document)	Record a rate for that pair on or before that date, then post again.