Currencies
Currencies define the denominations you trade in. Most world currencies are pre-loaded, so international transactions can be recorded immediately — this screen is where you manage those definitions, name their fractional units, and enable automatic rate fetching.
Where to find it
Go to Banking > Settings > Currencies.
Currency List Summary
| Column | Description |
|---|---|
| Abbreviation | The three-letter ISO code — AED, USD, INR. |
| Symbol | The graphical symbol — ₹, $, €. |
| Currency Name | The full name of the currency. |
| Fractional Unit | What the sub-unit is called — cents, fils, paise. Used when amounts are written in words. |
| Auto Update | Whether exchange rates are fetched automatically. |
Adding a New Currency
| Field | Required | Description |
|---|---|---|
| Abbreviation | Yes | The ISO code, which is how the currency is referenced everywhere. |
| Currency Name | Yes | The descriptive name. |
| Symbol | No | Shown alongside amounts. |
| Fractional Unit | No | The name of the sub-unit. |
| Auto rate update | No | Fetches rates automatically rather than relying on manual entry. |
Global Accessibility
Activating a currency makes it selectable on customer and supplier records, bank accounts and transactions. Your home currency is set in Company Setup and everything converts back to it.
Action Icons
Edit updates a definition; the Inactive toggle hides currencies you do not trade in, which keeps the dropdowns short.
Note
A currency is only half the setup. Without a rate in Exchange Rates, the system cannot value a transaction in that currency against your books.
Related pages
- Exchange Rates — valuing these currencies
- Currency Revaluation — restating balances as rates move
- Bank/Cash Accounts — accounts held in currency
- Company Setup — the home currency