Currencies

When working on projects for clients in different countries, it’s often necessary to invoice in the local currency. To facilitate this, VOGSY allows you to easily manage and use various currencies.

Types of currency

A project might employe one or more of the following currency types:

  • Base currency: This is the currency of the parent company. Unless otherwise set, this will be the currency used in the project.

  • Local currency: This is the currency of the company managing the project.

  • Invoicing currency: The currency that is configured when creating the project and that determines the currency to be used for invoicing.

Adding a currency to VOGSY

Before a currency can be set for a company, employee, or project, it must first be added to the VOGSY’s Currency master table.

You must have the Support staff role in order to access the back office.

  1. Go to the back office, scroll down to the Master Tables section, and click Currencies to display the Currencies master table.

  2. Click plus blue background2 to create a new currency entry.

    add currency

  3. Fill out the form. Use the following field descriptions.

    Name Description Required?

    Name

    The name of the currency.

    Y

    Decimals

    Number of decimal places to display. Default value is 2.

    N

    Code

    The currency’s ISO 4217 code.

    Y

    Symbol

    The currency’s graphic symbol used to denote a currency unit.

    N

    Rate unit

    A currency unit.

    Y

    Inverse

    N

    Rate

    Conversion rate based on the US dollar.

    After you enter a value in the field and save the currency, a refresh button (refresh blue) will display next to the field. Click the button to fetch the current rate for the currency and then click Save to store the new rate.

    Y

    Ledger account for exchange difference

    Y

    Ledger account for rounding difference

    Y