Invoice in their currency, keep the books in yours
Each document carries its own currency and exchange rate. With no rate on file and none typed, the document is refused, never booked at one to one.
- Document currency
- USD
- Books currency
- SAR
- Rate on file
- 3.7500, from 1 March
- Invoice total
- 2,000.00 USD
- In the books
- 7,500.00 SAR
Goes through · Booked at the latest rate on or before the invoice date
How a rate is found
Enter rates
Record rates by date for one subsidiary or for all of them. A second rate for the same pair, date and scope is refused.
Pick the currency
A document takes the currency you choose, else the customer’s or vendor’s own, else the subsidiary’s books currency.
Resolve the rate
A rate typed on the document wins. Otherwise the latest rate on or before its date: the subsidiary’s own first, then the shared one.
Refuse when missing
With no rate anywhere, the document is refused, naming the currency and the date.
Details that matter
One books currency per subsidiary
Each subsidiary keeps its books in its own currency, and its reports read in it.
Reverse pairs work
If only the opposite pair has a rate, Axon Suite uses its inverse.
Never zero
A typed rate of zero or below is refused, and the database refuses one too.
Questions buyers ask
What if we forget today’s rate?
The latest earlier rate is used. Only when no rate exists on or before the date is the document refused.
Can each company have its own rates?
Yes. A subsidiary’s own rate wins, and rates entered for all subsidiaries fill the gaps.
Do you revalue foreign balances at month end?
Not yet. Today each document keeps the rate it was booked at.