Currencies

The default currency for your organization will be based on the country that you select while setting up your organization. In the case of the UAE, it will be Dirhams (AED).

In case, your organization sells products or provides services to customers from different countries, you can add those currencies and exchange rates you deal with to your Zoho Books account.


Adding New Currency

Zoho Books has a list of currencies which can be used in the transactions that you create.

To add a new currency,

Status Description
Currency Code Select the code based on the country where your business is developing.
Currency Symbol It will be set by the country code that you choose. You can change it based on your preference.
Decimal Places Decimal places indicate the length of the numbers after the decimal point.
Format The way your currency is formatted.

Editing the Currency

You can edit the currency symbol and their decimal places. Here’s how:

Note:
You can either click the currency or select edit option to the right of the currency.


Adding Exchange Rate

For every currency you add, there is an exchange rate of your base currency for the purpose of calculation.

Exchange rates are calculated and set automatically for the currencies in your Zoho Books account at periodic times. Exchange rates will help in accurate calculation of currency gain or loss.

You can manually update the exchange rates for the currencies in Zoho Books. Here’s how:

Note
You can either click the currency or select edit option to the right of the currency.


Viewing Exchange Rates

To view a list of past exchange rates entered for a specific currency:

Note You can view exchange rates only if you have disabled exchange rate feeds i.e. you have decided to enter the exchange rates manually.


Importing Exchange Rates

You can also import exchange rate instead of manually entering them. To import exchange rates,

Note
You can download a sample file and compare it to the file you are importing to ensure that all the file is imported correctly. Click the sample file to download it to your computer.

Note You can check the box Save these selections for use during future imports to save this format for future imports.


Exporting Exchange Rates

You can export exchange rates that you have created in Zoho Books. Here’s how:


Disabling Exchange Rate Feeds

Zoho Books allows you disable the exchange rates for all the currencies that are fetched in real-time from our service provider Open Exchange Rates with respect to the base currency of your organization. They provide real-time exchange rates for more than 165 world currencies.

By default, exchange rate feeds are enabled in Zoho Books. To disable it,

You can enable exchange rate feeds if you don’t want to enter them manually every time.


Enabling Exchange Rate Feeds

Zoho Books allows you to automatically fetch the exchange rates for all the currencies that have been added in your organization. The exchange rate will be fetched in real-time from our service provider Open Exchange Rates with respect to the base currency of your organization. They provide real-time exchange rates for more than 165 world currencies.

By default, this feature is enabled in Zoho Books. If you have disabled it before, you can enable it again. Here’s how:

If you want to enter exchange rates for currencies manually, you can disable exchange rate feeds.


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