Currencies
First published on November 15, 2024 , updated on July 8, 2025For global businesses, managing multiple currencies is essential for clear communication and financial accuracy. VOGSY makes it easy to handle international projects by allowing you to maintain a list of currencies and their exchange rates. This ensures you can manage project budgets, create sales documents, and run financial reports with precision, no matter where your clients are located.
Navigating to the currencies page
Only users with administrative or back-office permissions can manage currencies.
To begin, navigate to the Back Office section of VOGSY. In the menu, locate and select Currencies. Here, you will find a list of all active currencies in your system, along with their ISO code, symbol, and the current exchange rate against your base currency.
A dialog box will appear. Fill in the following fields:
Name: The full, official name of the currency (e.g., United States Dollar, Euro).
Code: The currency’s official three-letter ISO 4217 code (e.g., USD, GBP).
Symbol: The graphic symbol used to denote the currency (e.g., $, £).
Decimals: The number of decimal places to display for amounts in this currency. The default value is 2.
Rate unit: The currency unit for which the exchange rate is quoted. This is typically 1.
Rate: The exchange rate for the currency against the base currency
Ledger account for exchange difference: Specify the ledger account used to post gains or losses resulting from exchange rate fluctuations.
Ledger account for rounding difference: Specify the ledger account used to post minor differences caused by rounding calculations.
Note: There are currencies with three decimals; VOGSY handles them all.
VOGSY connects to an external exchange rate service, Fixer, to automatically update the exchange rate. This service is activated by clicking this button.