Automatic Exchange Rates

Businesses that operate internationally deal with multiple currencies. An invoice issued in euros needs to be reported in local currency. A product priced in US dollars needs to be shown in the customer's currency. An order placed in British pounds needs to be reconciled in the company's base currency.

All of this requires accurate, current exchange rates. Manual rate management is error-prone and labor-intensive: someone has to check the rate, enter it correctly, do so for every currency, and remember to update it daily.

Automatic exchange rates eliminate this entirely.

Rates Updated Daily

The platform imports exchange rates from central bank sources automatically, every day. No one has to initiate the import, no one has to find the rates, no one has to enter them.

When currency conversion is needed — for an invoice, for a report, for displaying a price in the customer's currency — the platform uses the most recently imported rates. The rates are as current as the source they come from.

Official Sources, Accurate Rates

Rates come from central banks — official, authoritative sources. These are the rates used as references for regulatory and accounting purposes, not commercial rates that include markup.

The import handles the data format parsing, including cases where rates are quoted per 100 or per 1000 units of a currency (some currencies are quoted this way for practical precision). The platform normalizes these automatically.

Fallback Logic

On days when the rate import is unavailable — weekends, public holidays, source outages — the platform falls back to the most recent available rate. You don't get missing data or calculation errors; you get the closest valid rate with its date clearly recorded.

For accounting purposes, the date of the rate used is stored alongside any converted values. You can always answer "what rate was used for this conversion and when was it from?"

Multi-Currency Records

Financial records — invoices, orders, payments — can store values in multiple currencies simultaneously. The original currency as issued, the converted amount in the base currency, and the exchange rate and date used for the conversion.

This full picture satisfies accounting requirements and makes reconciliation straightforward: you know exactly what rate was applied, when, and what the converted value was at that time.