Users may require access to input expenses, purchase orders or bills in currencies other than their base currency.
Administrators can enable currencies by navigating to Settings > Company > Financial > Currencies > Edit. This guide outlines all of the configuration options on this page.
Note: If you're a Nexonia user who needs a currency added, contact your internal Nexonia administrator. You'll find their contact information on your Nexonia homepage after you login.
Enable New Currencies in Nexonia
- Locate the currency in the list
- Check the box in the "Status" column
- Click "Apply" at the bottom of the page
Data entry currencies are enabled company-wide and are not limited by region or user role.
Change the Exchange Rate Source
Nexonia synchronizes daily exchange rates from industry standard sources. Choose from XE.com, or European Central Bank (with a fallback to XE.com for currencies not available from European Central Bank). Click "Apply" at the bottom of the page to save changes to this field.
Allow Users to Adjust the Exchange Rate
The daily exchange rate synchronized into Nexonia may not exactly match the rate received by the user at the time of purchase, or the exchange rate applied by the user's credit card provider. In major, stable currencies these discrepancies are rare, but they can be quite common when dealing with more volatile currencies.
By default, users can adjust the exchange rate on individual expense items by 5% from the daily synchronized rate. This can be adjusted currency-by-currency:
- Locate the currency in the list
- Ensure the box is checked in the "Status" column to enable it
- Adjust the value in the "Variance" column on the right
- Click "Apply" at the bottom of the page
To prevent users from editing the exchange rate for a specific currency, set the Variance % to "0".
Exchange Rate Adjustment for Users (%)
Conversion rates from the data entry currency to the user's home/reimbursement currency will be inflated by the value in this field.
Use this setting if users in your organization only purchase foreign currency in advance of a trip from a currency exchange vendor that applies a consistent percentage fee, or your organization applies a standard inflator on foreign currency expense reimbursements to account for fees that users may incur on their personal credit cards.
It is very uncommon for a value >5 to be set in this field. In most configurations, this setting is not used.
Change the Base Currency
- Locate the currency in the list
- Select the radio button in the "Base currency" column
- Click "Apply" at the bottom of the page
A Nexonia account can only have one base currency. Changing the base currency will affect reporting, data exports, future user creation and future region creation. It is very unusual to change the base currency.
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