What is currencies in zoho expense?

Estimated reading: 3 minutes 8 views

Introduction

If your business operates internationally, handling expenses in multiple currencies can be a challenge. With Zoho Expense, you can add and manage various currencies, convert them to your base currency, and even automate exchange rates.

This guide will show you how to:

Add and manage currencies
Enable automatic or manual exchange rates
Import and export exchange rate data

Perfect for UK businesses dealing with international vendors, teams, or travel.

Step-by-Step Instructions

1. Add a New Currency

Need a currency that’s not already in the system? Add it manually:

Go to Admin View > Settings,
or click the Gear icon in the top right.
Click Currencies under the Organisation
Select + New Currency (top right corner).
Choose a Currency Code the symbol fills in automatically.
Select the decimal places for the exchange rate.
Click Save.

Tip: Add currencies your team regularly uses for international expenses.

2. Edit or Delete a Currency

You can edit currency details or delete unused ones.

Go to Admin View > Settings > Currencies.
Click the More icon (⋯) next to the currency.
Choose:
- Edit Make changes and click Save.
- Delete Confirm deletion in the popup.

Note: You cannot delete a currency already used in an expense.

3. Enable Automatic Exchange Rates

Save time by letting Zoho fetch the latest exchange rates for foreign currency expenses.

To enable:

Go to Admin View > Settings > Currencies.
Click Enable Automatic Exchange Rates (top right).

Now, every time a user records an expense in a foreign currency, Zoho will automatically calculate the equivalent in your base currency using real time data.

Tip: You can disable this anytime and enter exchange rates manually.

4. Add Exchange Rates Manually

If you prefer to set your own exchange rates:

First, disable automatic exchange rates in Settings > Currencies.
Then:
- Click the More icon (⋯) next to the currency.
- Select Add Exchange Rate.
- Enter the Date and exchange rate relative to your base currency.
- Click Save.

This manual rate will be used when recording future expenses in that currency.

5. Import Exchange Rates

Need to upload a batch of rates? You can import them using a file.

Prerequisites:

The currency must already exist in Zoho Expense.
Automatic exchange rates must be disabled.

To import:

Go to Admin View > Settings > Currencies.
Click the More icon (⋯) at the top right.
Select Import Exchange Rates.
Upload your file (CSV, XLS, or from cloud storage).
Match fields in your file to Zoho’s format.
Click Import to complete the process.

Tip: You can save field mappings to reuse for future imports.

6. Export Exchange Rates

Export your exchange rates to back them up or use them in accounting tools.

Only available when automatic exchange rates are disabled.

To export:

Go to Admin View > Settings > Currencies.
Click the More icon (⋯) at the top right.
Choose Export Exchange Rates.
Select file format: CSV or XLSX.
Optional: Protect the file with a password.
Click Export to download the data.

Tips

Use automatic rates for up to date accuracy when dealing with regular travel or foreign suppliers.
Switch to manual rates when budgeting or using agreed conversion rates.
Review currencies periodically to remove unused ones and simplify reporting.
Always double check imported rates to avoid costly errors.

What is currencies in zoho expense?

Introduction