Fincon Accounting uses South African Rand as its default currency, but if you use another currency, have customers that receive their invoices in another currency, you receive goods from a foreign country or whatever reason you might have for wanting to use a different currency, you have the ability to add them within Fincon Accounting.
Watch this video to see how to create a new currency or follow the steps below it.
Navigate to the correct window
- Navigate to System / Exchange Rates.
Enter the currency details
- In the next available blank line, enter the currency's abbreviation in the ABBREVIATION column.
- Enter the description of the currency in the DESCRIPTION column.
- Enter the currency's symbol in the SYMBOL column.
- Enter the exchange rate of the currency to your local currency in the CURRENT RATE column.
For example, if the United States Dollar is R15.50 for one dollar, 15.50 should be entered in the CURRENT RATE column. You can change this rate at any time here as well.
We suggest you do this once a month before you roll-over and close off your month and change the spot rate for every transaction.
Save the currency
- Click the Accept button.
- Check that a confirmation window has appeared with the following message: The exchange rates have been updated successfully.
- Click the OK button.