Overview
Currency maintenance helps QBM support multi-currency transactions consistently. The exchange-rate screen stores the usable rate values and the time they apply.
Where To Find It
Path: Administration > Currency and Exchange Rates
Use the currency and exchange-rate screens when a business currency must be added, reviewed, or updated for real transactions.
How It Works
QBM lets users maintain the currency record itself and then enter exchange rates by date and time. Buy and sell values can be reviewed along with the equivalent base and currency values shown by the rate screen.
Main Areas
| Area | What It Means | When To Use It |
|---|---|---|
| Currency record | Holds the basic definition of a currency used by the company. | Use it when adding or reviewing which currencies are available. |
| Rate date and time | Defines when the exchange rate applies. | Use it when maintaining a time-sensitive or period-sensitive rate. |
| Buy and sell rate values | Stores the practical exchange values used for foreign-currency work. | Use it when transactions rely on a maintained currency rate. |
Recommended Workflow
- Confirm the currency record exists and is active for use.
- Open the exchange-rate screen for the relevant currency.
- Enter the correct date and time for the new rate.
- Set the buy rate and sell rate carefully, then review the equivalent-value areas before saving.
- Use a test transaction or review screen if the rate affects live foreign-currency activity immediately.
Best Practice
- Use a consistent source and approval process for exchange-rate updates.
- Be careful with date and time so the correct rate applies at the right point.
- Review both buy and sell logic when the business uses them differently.