Learn about the currency exchange rates and rounding options to customize your Precoro settings for accurate financial calculations tailored to your business needs.
TABLE OF CONTENTS
Types of Exchange Rates and How to Customize Them
To edit an exchange rate (ER) type:
- Go to Configuration → Basic Settings → Currencies.
- Select an exchange rate type.
- Click Save to record the changes.
You can choose from three Precoro currency ER types:
- Auto: Configured by default in Precoro settings and requires no additional steps.
The system automatically calculates the actual amount using an integrated currency service and updates the rates hourly.
💡Please note: When using a document Repeat function, the rate of a new document is automatically updated.
- Manual: Allows you to input the exchange rate manually whenever you create a new document.
When using a document Repeat function, the manual exchange rate from the previous document is not transferred to a new one, allowing you to input a fresh rate.
💡Please note: If you update the currency rate in a PO-based Invoice, it remains unchanged in the PO. However, you can edit the PO’s exchange rate manually.
- Fixed: Applies the same rate to all documents.
You can enable the fixed exchange rate and set rates for all Precoro currencies in the Currencies tab.
💡Please note: You can still edit the exchange rate manually when creating a document.
Editing Precoro Currency Exchange Rates in Documents
💡Please note: The Exchange Rate in Precoro can be edited by the document Initiator and its Approvers.
You can set and edit the exchange rates (ER) on the right side of the document page in Purchase Requisitions, Requests for Proposals, Purchase Orders, and Invoices with the following statuses:
| Document/Status |
Draft
|
Pending
|
Approved
|
In Revision
|
Partly payed
|
| Purchase Requisitions | + | + | + | + | |
| Requests for Proposals | + | + | + | + | |
| Purchase Orders | + | + | + | + | + |
| Invoice | + | + | + | + |
💡Please note: ER cannot be edited on the Canceled, Rejected, Matching, Completed, Paid, and Partly Paid (except for POs) stages.
Editing rates in Pending or Approved documents will not trigger the Matching process.
Additionally, you can track the changes in exchange rates in documents using the Revision History function.
How to Set Up Roundings
To configure rounding settings:
- Go to Configuration → Basic Settings → Currencies.
- Specify how many digits after the decimal point should be calculated.
- Choose the rounding type.
- Click Save to record the changes.
Rounding Types
You can choose between 3 rounding types:
- Math:
- if the number you are rounding is followed by 5, 6, 7, 8, or 9, it will be rounded up;
- if the number you are rounding is followed by 0, 1, 2, 3, or 4, it will be rounded down:
- Up - the number will be rounded up regardless of what it’s followed by:
- Down - the number will be rounded down regardless of what it’s followed by:
If you wish to round to a whole number:
- Select “0” in the field that denotes how many numbers after the decimal point to round.
- Choose the type of rounding.
- Click Save.
- 0+up combination will result in the whole number rounded up (e.g., 350.679 → 351.00):
- 0+down combination will result in the whole number rounded down (e.g., 350.679 → 350.00):
💡Please note: The Net and Gross Total in the document will be rounded by default to two decimals, while in the Item Lines and Budget, they will be calculated according to your rounding settings.