Fixing the currency rate on a purchase order (PO) helps maintain stable costs and accurate financial records. By locking the exchange rate, you avoid fluctuations that could affect supplier payments or distort your cost tracking.
Katana updates exchange rates daily on open orders, but the rate is automatically fixed in certain situations.
Why fixing matters
Ensures consistent costs for items purchased in foreign currencies.
Aligns purchase data with your accounting system for accurate billing.
Prevents unexpected cost changes if the exchange rate shifts after the order is placed.
When Katana automatically fixes currency rates
Katana will lock the exchange rate on a PO when:
The PO is set to Received or Partially received.
The PO is pushed to accounting software as a bill (Xero, QuickBooks).
At this point, the exchange rate on the order no longer updates daily and remains fixed for financial accuracy.
Fixing rates on partially received orders
If an order is partially received, the currency rate is fixed only for the items received at that time.
Items not yet received will continue to use the daily exchange rate.
Each partial receipt may therefore have its own fixed rate, depending on when the items were received.
This means a single PO can include multiple exchange rates across its different receipts.
Billing partially received orders
When you send a bill to Xero or QuickBooks Online for a partially received PO, Katana adjusts the conversion rate for all received items based on the rate fixed at the time of receipt. This ensures your accounting records align with actual supplier costs.
Manual edits
In some cases, you may still need to adjust the conversion rate manually — for example, if you agreed on a fixed rate with your supplier.
Learn more about editing conversion rates
Key notes
Once fixed, the currency rate stays locked on the PO.
Manual edits are possible, but the currency field itself cannot be changed after the rate is fixed.
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