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Currency exchanges contain exchange rates which are used when charges on one account are applied to another account (for instance, a sub-child account is setup in one currency and the account's charges are invoiced to its parent account which is set to use another currency).
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Navigate to Setup / Finance / Currency Exchange screen
Select the current (effective) exchange rates in the list on the left
Enter the exchange rate for the Euro currency in relation to the Default currency (for example 0.85) and click Save
Result
The Euro exchange rate will be applied when an account set to ‘Euro’ currency is billed for another account's charges, and the other account is set to a different currency.
If you have completed the base configuration of the system you can create accounts and test applying exchange rates.
Currency Exchange Example: Parent Account A parent account set to ‘Euro’ Currency Billed for Child Account set to ‘USD’Euro currency being billed for a child account’s transaction in USD currency
Parent Account / Settings / Billing
Euro Currency :is set on the parent account.
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Child Account / Settings / Billing
USD Currency :is set on the child account.
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Adding a Transaction ($20) and Bill the Child Account
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Check the Invoice or Transactions tabs on the Parent Account
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The USD charge on the child account has been converted to Child Account / Billing / Transactions
A transaction of $20 is added to the child account and the child account is billed. The transaction is issued to invoice INV-007855 (shown in the image below).
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Parent Account / Billing / Invoices
On the parent account the child account’s transaction is displayed on the Invoices and Transactions tabs. The charge in USD on the child account is displayed in the parent account’s Euro currency ($20.00 * 0.85 = €17.00).
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Next Steps
Optional: Email & Invoice Templates can be configured now or at a later time if desired. See the Dunning/Payment Overdue Email Template Example for a sample email template configuration
Invoice Delivery settings need to be configured in order to define how an invoice is delivered and what invoice template is used. See the Invoice Delivery Configuration Example article for instructions
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