Currency in Rackbeat

Table of Contents

• Create new currency

• Delete currency

• Set fixed exchange rate

• FAQ

Create new currency

By default, DKK, NOK, SEK, EUR, GBP, and USD are set up in Rackbeat.
If you, your customers, or your suppliers trade in other currencies than the default ones, you can add them on the Currency page under Company Settings.

1. Hover over your name and company name in the top right corner, and select Company Settings.

2. Click on Currency in the menu on the right to open the currency setup page.

3. Click the Create new button to add additional currencies, and choose from the list.
   All supported currencies are listed in ISO 4217 format (e.g., JPY = Japanese Yen, CHF = Swiss Franc, etc.).

Delete currency

1. Hover over your name and company name in the top right corner, and select Company Settings.

2. Click on Currency in the menu on the right to open the currency setup page.

3. Click the trash can icon next to the currency you want to remove, and confirm to delete the exchange rate.

Set fixed exchange rate

1. Hover over your name and company name in the top right corner, and select Company Settings.

2. Click on Currency in the menu on the right to open the currency setup page.

3. In the input field under Rate, enter the new fixed rate and press Enter on your keyboard.
   You will now see that Fixed exchange rate is set to Yes.

To remove the fixed value again, click the synchronization icon () in the input field, and the currency will automatically update again.

FAQ

When is the exchange rate locked?

• The exchange rate on invoices, orders, and quotes is set at the time of creation.

Is it possible to change the default currency?

• You choose a default currency when you create your Rackbeat account – this cannot be changed or deleted afterwards.

Where does the exchange rate come from, and how often is it updated?

• Rackbeat retrieves exchange rates from https://fixer.io/ and updates them four times daily.