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How to Set Currency

In this lesson, you will learn how to set up a currency in Parsimony.com’s multi-currency module.

Setting up the currency is an essential step to ensure accurate and consistent financial reporting when dealing with transactions in different currencies. By setting the currency in the system, you can easily perform various financial tasks such as invoicing, billing, and making payments in the currency of your choice.

The course will cover the following topics:

  1. Adding a new currency – You will learn how to add a new currency to the system and set up the currency exchange rate.
  2. Setting the default currency – You will learn how to set the default currency for your company and assign a conversion rate to it.
  3. Updating exchange rates – You will learn how to update exchange rates for the currencies in the system.
  4. Multi-currency transactions – You will learn how to create and manage transactions in multiple currencies and how the system handles them.

By the end of this course, you will be able to set up and manage currencies in Parsimony.com’s multi-currency module, which will enable you to carry out financial transactions smoothly across multiple currencies.