Enabling Multiple Currencies

If your business uses more than one currency for transactions, you can configure OpenAir to support transactions in currencies other than your default currency. For example, the feature lets you reimburse employees expenses, invoice customers, recognize revenue, and run reports in multiple currencies. After you enable multiple currencies, you can set a Currency for all relevant entity records, include monetary fields for each configured currency in reports, and work with multiple currencies in OpenAir.

Note:

The Multicurrency feature is not required to create expense receipts in any of the system-supported currencies. If all your business transactions are done in the default currency for your account, you do not need to enable the Multicurrency feature. You cannot disable the feature after you create transactions and records that rely upon it.

To enable multiple currencies:

1. Contact your OpenAir account manager or OpenAir Professional Services and request the Multicurrency feature.

2. Go to Administration > Global Settings > Organization > Currencies > Multi-currency.

3. Select the currencies your company conducts business transactions in. The first currency you select at the top of the form is your default currency. To add more rows, click the [Add rows] dropdown and select the number of rows you need to add.

4. Click Save.