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What is currencies in zoho expense?

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Zoho Expense currencies let businesses that deal with international vendors, teams or travel record expenses in more than one currency and convert them to their base currency. This guide covers adding currencies, exchange rates, and importing or exporting rate data.

What currency management covers

  • Adding and editing currencies
  • Automatic or manual exchange rates
  • Importing and exporting exchange rate data

How to add a new currency

  1. Click Admin View, then Settings (or the Gear icon).
  2. Click Currencies under Organisation.
  3. Click + New Currency.
  4. Choose a Currency Code (the symbol fills in automatically) and select the decimal places for the exchange rate.
  1. Click Save.

How to edit or delete a currency

  1. Go to Settings > Currencies.
  2. Click the More icon next to the currency.
  3. Choose Edit to make changes and save, or Delete to remove it. A currency already used in an expense cannot be deleted.

How to set exchange rates

Automatic exchange rates

  1. Go to Settings > Currencies.
  2. Click Enable Automatic Exchange Rates (top right). Zoho Expense will then convert foreign currency expenses to your base currency using current rates. You can disable this at any time.

Manual exchange rates

  1. Disable automatic exchange rates first.
  2. Click the More icon next to the currency and select Add Exchange Rate.
  3. Enter the date and the exchange rate relative to your base currency, then click Save.

How to import or export exchange rates

To import rates, the currency must already exist and automatic exchange rates must be disabled: go to Settings > Currencies, click the More icon, choose Import Exchange Rates, upload a CSV or XLS file, and match the fields to Zoho’s format.

To export, click the More icon, choose Export Exchange Rates, pick CSV or XLSX (optionally password protected), and click Export.

Tips

  • Use automatic rates for accuracy with regular travel or foreign suppliers, and switch to manual rates when working to agreed conversion rates.
  • Review your currency list periodically to remove ones you no longer use.

Frequently asked questions

Can I delete a currency I’ve already used?

No. You cannot delete a currency that has already been used in an expense.

What happens when automatic exchange rates are enabled?

Zoho Expense fetches current exchange rates automatically and converts foreign currency expenses to your base currency; you can switch to manual rates at any time.

Can I bring in exchange rates from a spreadsheet?

Yes, exchange rates can be imported from a CSV or XLS file, or exported to CSV or XLSX, as long as automatic exchange rates are disabled.

Need help?

Need help configuring multi-currency expenses in Zoho Expense? Contact support@thoughtlogik.com or see our Zoho implementation services.

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