Zoho Inventory

Help Docs

Currencies

Are you a global seller or a service provider dealing with customers and vendors from more than one country? Now its simple to manage all the currencies you deal with. You can add those currencies and exchange rates you deal with, to your Zoho Inventory account.

Access: Gear wheel(settings) icon > Currencies option in the drop down.

currencies page

Here is an overview of how you can mange your currencies with Zoho Inventory.

Currencies

Currency Exchange rates


Currencies

Base currency

This is your operating currency against which exchange rates are quoted in a given country. This will be set by you when you create an organization. The base currency will be applied to your item prices, transactions(as long as the contact has the same currency) and your reports.


Adding a new currency

To add a new currency:

image of new currency pop up


Editing a currency

To update currency information or the exchange rate for a currency, follow these steps

uncover Edit option by hovering over the currency in the currency page

image of editing a currency


Deleting currencies

uncover Delete option by hovering over the currency in the currency page

Note: You will not be able to delete your base currency.


Associating currencies to a contact

When you add a customer or a vendor to your Contacts, you have the a currency field where you can associate the contact with a specific currency.

If a customer or a vendor is from the same country as you, then the currency associated to them is going to be your base currency.

If the customer or vendor is from another country, then you can associate their respective currency. This currency will be applied to the transactions you have with them.

To learn more about contact creation, click here.


Buying & selling items in a foreign currency

With your item prices and reports showing up in your base currency, you might be wondering, how do I buy an item from another country? or sell your goods to a customer beyond your border? Worry not. As always, we have a way!

Purchasing an item in foreign currency:

Selling an item in foreign currency:


Currency Exchange Rates

Enabling Auto Exchange Rate Feeds

To enable enable automatic exchange rate feeds,

Enable auto exchange rate feeds

Pop-up

multicurrency order

disable auto exchange rate feeds


Manually adding exchange rates

If you wish to add the exchange rate for that currency:

image of adding an exchange rate


Importing exchange rates

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

The Other gearwheel icon for import and export in currency page

Screenshot for importing exchange rates

Screenshot for Map fields

Screenshot of Preview


Viewing exchange rate history for a currency

Important Note: This is available only for organizations that have not enabled automatic exchange rate feeds and rely on manually adding/importing exchange rates.

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

This can be a good synopsis on the exchange rate fluctuations. You can also add a new exchange rate or delete an existing rate from this page as well.

Screen shot of viewing exchange rates


Exporting Exchange Rates

To export Exchange Rates:

Screenshot of exporting exchange rates

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