Freeze Exchange Rate

Freeze Exchange Rate

Introduction

In iVendNext, you can fetch Exchange Rates between currencies in real-time, or save specific exchange rates as well. In iVendNext, saved exchange rates are also referred to as Stale Exchange Rate.


In your sales and purchase transactions, if the field of Currency Exchange Rate is frozen, that is because the feature of allowing stale exchange rates in transactions is enabled. 


If you wish to make the Currency Exchange Rate field editable again, then disable the feature of Stale Exchange Rate.


Navigate to: Accounting > Accounting Masters > Accounts Settings


Under the 'Currency Exchange Settings’ section uncheck the field "Allow Stale Exchange Rates".


Stale Exchange Rates


Save Account Settings


Do nor forget to refresh your iVendNext account


Check Sales / Purchase transaction once again


After this setting, the Exchange Rate field in the transactions should become editable once again.


Related Topics 

  1. Chart of Accounts

  2. Freeze an Account

  3. Freeze Accounting Entries


    • Related Articles

    • Key Concepts in Accounting

      Key Concepts in Accounting iVendNext offers a comprehensive set of accounting features and tools that cater to the needs of various businesses. Understanding these key concepts and terms is crucial for effectively managing your finances within the ...
    • Mastering Payment Reconciliation

      Introduction Reconciling payments received against bank statements is a crucial aspect of maintaining accurate financial records. iVendNext offers both manual and semi-automated payment reconciliation tools, empowering users to streamline this ...
    • Project Costing

      Introduction Each project has multiple tasks associated with it. To track the actual cost of a Project, primarily in terms of services, a User has to create a Timesheet based on the time spent on a Task within a Project. You can track the service ...
    • Item Pricing

      This document details the steps for defining item prices and creating a price list in iVendNext, a retail management system. The Price List establishes the framework and guidelines for setting and managing item prices, enabling flexible and dynamic ...
    • Stock Transfer

      This document outlines the steps for transferring stock between stores. It also discusses the reports you can use to track inventory movement and balances, such as the Stock Ledger, Stock Balance, and Stock Summary reports. Introduction Stock ...