Skip to main content
All CollectionsSettingsMulti-currency
Fixing the currency rate on purchase orders
Fixing the currency rate on purchase orders

Fix currency rates on purchase orders to lock in exchange rates and ensure consistent financial tracking.

Dayvid Lorbiecke avatar
Written by Dayvid Lorbiecke
Updated over a week ago

Fix currency rates on purchase orders (POs) to allow your business to lock in specific exchange rates, ensuring consistent costs and accurate financial records. By setting fixed rates, you avoid fluctuations in currency values, which is crucial for maintaining stable pricing with suppliers and effective financial management in multi-currency transactions.

Katana updates currency rates daily on open orders, but the rate is fixed in certain situations.

From a business perspective, the currency rate should typically be fixed when creating a bill. Katana doesn't have an accounting module, but will still fix currency rates on orders when you are likely to create a bill in your accounting system.

Katana will automatically fix your currency rate if:

  • The PO is set to Received or Partially received.

  • The PO is pushed as a bill to accounting software (Xero, QuickBooks).

Sometimes you may need to manually edit the conversion rate. Learn how to do that.

Fixing the currency rate on a partially received order

If an order is partially received, the currency rate is fixed for the part that has been received. Items that haven't been received still use the daily exchange rate. Receiving POs partially can result in every received part having a separate currency rate as they were received at different times.

Example of a PO with partially received items:

Fixed conversion rate on a partially received purchase order

Billing partially received orders in foreign currency

When issuing a bill for Xero or Quickbooks Online for an order that has been partially received then Katana will adjust the conversion rate on all received parts of the order.

Your feedback is invaluable. Let us know your thoughts on this article or anything in Katana you'd like to see improved: [email protected]

Did this answer your question?