Currencies and conversion rates on a purchase order

A purchase order is written in the currency you will pay the supplier in. Stock value and reports are kept in your organisation's currency. The conversion rate on the order joins the two.

Orders in a currency other than your organisation's are included in the Starter plan and above. On the Free plan, Currency on a new order is fixed to your organisation's currency and shows a padlock, and an order in another currency cannot be duplicated. An order already in another currency keeps it.

Find your organisation's currency

Your currency is set once for the whole organisation. Every purchase order is converted into it, whatever currency the order itself is written in.

1. Open Settings, then Organization.
2. Look in the Main Settings card for Default Currency.

The Organization page only appears in Settings for roles that have organisation settings access. Only the organisation's owner can change Default Currency.

Find the currency and rate on an order

1. Open Purchase Orders, then View Purchase Orders.
2. Open the order.
3. Find Currency and Conversion Rate in the white card at the top of the page, which begins with PO Number and PO Date.

When the order's currency differs from your organisation's, a line underneath the rate shows which way round it goes.

How conversion affects order figures

The order document's figures are in the order's currency: each line's unit price, net and total, and the order total. These figures are what the supplier is owed, and the conversion rate never changes them.

StockBold also keeps a converted copy of each figure in your organisation's currency. It divides the order-currency figure by the conversion rate. Stock value and reports use the converted copies.

The rate belongs to the order, not to the line, so every line on one purchase order converts at the same rate. If two deliveries from the same supplier need different rates, they must be separate purchase orders.

Shipping cost is entered in the order's currency, like the lines. On the create page, the Shipping Cost label shows that currency in brackets. Extra costs added afterwards in the Additional Costs (Landed Costs) section are entered in your organisation's currency, which is named in the Amount column heading.

Set the currency and rate on a new order

1. Open Purchase Orders and choose Create New PO.
2. Choose the supplier. If the supplier has a currency on its record, Currency fills in from it.
3. Check Currency and change it if the order is in a different currency.
4. Enter the rate in Conversion Rate. It starts at 1. Use the line under the box to check that the sentence it forms is true.
5. Fill in the rest of the order.
6. Save the order.

When you choose your organisation's default currency, there is nothing to convert and the rate is held at 1. On the create page, Conversion Rate is greyed out. On an order you are editing, the box disappears and the rate goes back to 1.

Change the rate in Draft or Pending

1. Open the order.
2. Select Edit at the top of the page, or the pencil on a phone.
3. Change Conversion Rate in the details card.
4. Save the order.

Saving a Pending order sends it back to Draft.

You can enter the decimal separator as either a full stop or a comma. In the Draft or Pending box, the figure is rounded to two decimal places on screen when you click away, but the rate kept for saving is the full rate you typed. If you click into the box and out again without retyping, the rounded figure is what gets saved. Type the full rate again if you go back to it. Once saved, the rate is shown to four decimal places.

Change the rate after approval

1. Open the order.
2. Click the pencil beside the Conversion Rate figure.
3. Enter the new rate.
4. Click the save icon next to the box.

The change saves on its own, without reopening the order. The pencil is only shown when you have the Manage PO Financials permission, the order is past Draft and Pending, its currency is not your organisation's, its year is not locked, and its supplier has not been deleted. A rate of zero or less is refused there.

The currency itself can only be changed while the order is Draft or Pending. After that, only the rate can be changed. An order approved in the wrong currency has to be reopened, or raised again.

A rate change is recorded in the order's History section, with who changed it and when. The entry does not show the old and new rates, so History tells you that the rate moved but not what it moved from.