Table of Contents

Locking Currencies

Jennifer Sneider Updated by Jennifer Sneider

If your production purchases Assets in currencies other than USD, lock the exchange rates into Asset Hub before the first Asset report is uploaded.

Adding Currencies to a Project

  1. While logged into a Feature or Series, click Feature Settings (or Series Settings) on the top navigation bar.
  2. Select Currency in the Options menu. If you don't see the menu, click the Caret to open the collapsible toggle.
  3. On the Currency Settings page, click the orange (+) button to bring up the Add Project Currency form.
  4. Complete the following fields:
  • Accounting Code: Enter the designation for the currency as it appears in SmartAccounting, Global Vista or PSL. For example, if you are purchasing in GBP, you may be using GBP as the Origin Currency designator.
  • Date: Choose the date on which the currency rate was locked. If you are unsure of when that occurred, you can choose today's date.
  • ISO Currency Name: Match the international standard 3-character code for the currency.
  • Country: Select the country in which the majority of Asset purchasing will occur for this currency.
  • New Rate: Enter the locked rate in relation to 1 USD. For example; while you can purchase 0.7654 USD with 1 CAD, to Asset Hub you actually purchased 1.2345 CAD with 1 USD. You'll enter in 1.2345 in the New Rate field.
Note: For the most accurate pricing record information, input the Currency Rate at least 4 digits past the decimal.
  • This is local currency: Click this checkbox if this is either the only currency or the primary currency for the production. This checkbox enables the Transactions to be converted to their local cost in a dedicated column. This can only be selected for one currency.
  1. Click Save.

Importing Ledgers

Once your currency is locked, you're ready to import your ledgers. Here are some quick links for your next steps:

Using Smart Accounting

Using Global Vista

Using PSL

How did we do?

Accounting Onboarding

Exporting Asset Reports from SmartAccounting