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Exchange Rates Module Introduction

eWay-CRM knows that world is smaller in the meaning of globalization. Relations among countries are stronger and it is manifested on the business field more than anywhere else. Even though, there is no unitary currency that eWay-CRM understand and has the specific Exchange Rates module. This module enables conversion of prices in the system to a currency that is your default one.

The Exchange Rates module serves to set currencies' exchange rates that will be used for converting prices through the system. Thanks to the exchange rates, you have a possibility to enter, for example, products and projects in different currencies and has a option to compare them in the same time or generate report with them. Each item is registered in the currency you choose and it is also convert to the default currency of your system by exchange rates.

Exchange Rates List

Clicking the Exchange Rates button on the eWay-CRM toolbar will bring up a list of the exchange rates stored in the system. Only valid exchange rates are shown in the default view.

If you wish to adjust the list view and you want to display the data which interests you, you should take a look at section Main List, where you will find general information about working with main list.

The Exchange Rates module has different rules from other modules. There is no Exchange Rate window because items are created, edited and deleted right in the item list - if you have appropriate permissions. The Exchange Rates list is an overview, but also the editable items. For more information, go to Add New Exchange Rate.

Exchange Rates Management

If you have the appropriate permissions, you can perform the following actions:

  • Create new exchange rate – detailed information about item creation can be found in the chapter: Add New Exchange Rate.
  • Item removal – right-click the row with exchange rate to show context menu - there is the Delete option

Exchange Rates and Their Relation With Other Modules

The existence of the Exchange Rates module is manifested in the whole eWay-CRM system. All price fields has fields for currency selection next to them. One item can be kept only in one currency - for example, if you set a currency for one field in the Project window, all price fields (expenses and revenues, etc.) will be set in the currency you set for the first entry in this window; if you set a currency for the first item in the Bookkeeping Record, all other added items must be in the same currency.

The conversion on the default currency is not seen in the dialog. For example, if you want to compare value of business deals with other deals, you have to display appropriate columns in the deals list (or in any other module).

Item Currency

This is the currency that is selected in the item window - the currency you choose in the fields of a Deal window, Project window, Bookkeeping Record window, etc. Item currency values are shown in the columns without suffix (e.g. it is the Price incl. Sales Tax on the picture above).

Default Currency

The default currency is set in the Global Settings by Default Currency and is same for all items. All cursimrency records are converted to the default currency in the system. Lists show values converted to the default currency in columns with the "(Default Currency)" suffix. See the picture above - the Price incl. Sales Tax (Default Currency) column shows converted values. Prices in the default currency can be used for effective comparing and sorting.

Parent Currency

Columns with the "(Parent Currency)" suffix are available in some modules such as Bookkeeping and Bonuses. The purpose of these columns is to show values in the currency of a superior item. For example, if you have a project in RUB, but you agreed with a client on sending some invoices in USD and some in RUB, the (Parent Currency) column allows you to show all invoices in the project currency, it means in RUB. If the superior item is not selected, the column won't show any value.

For simpler grouping and sorting of items, you can also show columns with currencies' abbreviations without numeric values - these are Currency, Currency of Parent Item and Default Currency columns in the right part of the picture above.

Conversion Recalculation

If you change numeric value or currency of an item, conversion to other currencies should be recalculated immediately. But if you set new Default currency in the Administration Application or you change superior item, the recalculation of prices in the (Default Currency) and (Parent Currency) columns will be done in one hour.

Recommended Settings

Default Currency

The default currency will be the one you use for you accounting and the register of revenues and expenses. But this currency needn't to be the currency of your sales, projects, etc. with your foreign partners. You need to set Default Currency in Administration Application to make eWay-CRM know your preferences.

List of Currencies on the Dialog

The list of currencies that users can select on the dialog, can be edited in the Drop Down Menus section of the Administration Application. Go to Currency drop down menu and click the check box in the Visible column. Users will see only these currencies that are marked as Visible.

Default Currency for New Items

The currency that will be shown as default currency in new item window, depends on the Windows setting (Control panel > Regional and Language Settings/Region and Language/Region > Formats tab > Additional settings... button > Currency option) - see pictures below. Suggested currencies in the Currency symbol field depends on the selected Format. There is one condition for eWay-CRM - the currency has to be marked as Visible in the Administration Application (see above) to be shown as preselected in the new item window. Each user can set the system due to his or her preferences. The suitable setting can improve the work with eWay-CRM, if you are preferring one specific currency.