The Currency module, located in the Accounting group, provides the ability to create alternate currencies and set the conversion rate between the home currency and the alternate currency. Currency rates can be imported and updated from QuickBooks. Currency rates can also be manually imported or imported on a schedule. Both the Sales Order module and the Purchase Order module support currency conversion. If currency conversion is enabled in Fishbowl and multi-currency is enabled in QuickBooks, orders will export to QuickBooks with the alternate currency set. QuickBooks automatically creates separate Accounts Receivable and Accounts Payable accounts for each currency that is in use.
Print sends the default module report to the printer.
Create a currency
Follow the steps below to create a new currency.
- Open the Currency module and click the New button located on the module toolbar.
- Select the Country of the alternate currency.
- If needed, modify the Name and Code.
- Enter the Rate to convert the home currency to the alternate currency and then click Save.
Edit, delete, or inactivate a currency
- To edit a currency, double-click the currency in the search pane, make any changes, and then click the Save button located in the module toolbar.
- To delete a currency, double-click the currency in the search pane and then click the Delete button located in the module toolbar.
- A currency cannot be deleted if it is in use by other modules. In this case, a currency can be inactivated by unchecking the Active checkbox and then clicking the Save button in the module toolbar. To view an inactive currency, select Inactive in the Status dropdown of the search pane.
Update currency rates
Currency rates can be updated using any of the following methods.
- Click the Update button in the Currency module to import updated currency rates from the accounting integration.
- Create a scheduled task to import updated currency rates from the accounting integration.
- Update currencies using the Currency CSV import.
Currency conversion for purchase orders
To see the currency conversion features available in the Purchase Order module, see Purchase Order Currency Conversion.
Currency conversion for sales orders
To see the currency conversion features available in the Sales Order module, see Sales Order Currency Conversion.
Some aspects of the Currency module can be customized by opening the module, clicking the Tools menu, and then selecting Module Options.
- Use Currency Conversion
- When the currency conversion option is checked, Fishbowl supports currency conversion in the Purchase Order and the Sales Order modules. If this option is unchecked, all of the fields related to currency conversion will be hidden throughout Fishbowl.
NOTE: The currency of a customer or vendor can only be changed when the customer is new. After orders have been created for a customer or vendor, the Currency field on the Details tab will be disabled.
- Always display the currency code for reports
- Displays the three letter currency code on reports.
- Set default home currency
- Select the default home currency to use in Fishbowl.
- Set default home country
- The default home country is selected when creating a database.