Your deals and invoices can be in several currencies. To add them up, Krak Stack converts everything into your company's currency (default currency), with a dated exchange rate.
Steps
- Check your company's currency in Settings > Company.
- Look at the currencies and rates in Settings > Finance, Currencies tab.
- Read the notes under the indicators: "exchange rate missing" or "converted with nearest available rate".
Good to know
- Dashboard and profitability amounts are excluding VAT, in your company's currency.
- An invoice keeps the amount converted when it was issued: this amount is then reused everywhere.
- A trading is converted at the rate frozen on its invoices; without an invoice, at today's rate.
- A container purchase price is converted at the rate of its purchase date.
- Rates are updated every day around 4 pm (Paris time): OpenExchangeRates for a company in dollars, European Central Bank for a company in euros. Other base currencies go through a cross calculation when possible.
- No rate at the exact date: the nearest rate is used and the amount is marked approximate. No rate at all: the amount is excluded or counts as 0, with a note.
- Exceptions: the Projection and the Fleet distribution in Value mode add up prices without conversion.
Frequently asked questions
Why does an amount count as 0?
No exchange rate exists for its currency. Add the currency or its rate in the Finance settings.
What does "converted with nearest available rate" mean?
The rate for the exact day was missing; the one from the nearest date was used. The gap is usually small.
Can I change my company's currency?
The field is in Settings > Company. But the amounts already converted on your invoices stay in the old currency: choose it at the start, and contact support before changing it on an account that already has invoices.
My invoice in euros shows in dollars on the dashboard. Is that normal?
Yes, if your company is in dollars. The invoice itself stays in euros for your client.
Why does the margin of a trading in euros change from one day to the next?
As long as no invoice has frozen the rate, the deal is converted at today's rate.
Are per diems in a foreign currency converted?
Yes, like all invoices, when they are issued.
Where do the rates come from?
OpenExchangeRates for a dollar base, European Central Bank for a euro base, updated every day.
Why does the Projection total look wrong when I have several currencies?
The Projection adds up prices as they are entered. Keep your target and purchase prices in one currency.
Are amounts with or without VAT?
Always excluding VAT in the indicators and in profitability.
Can I enter a rate by hand?
Currencies and their rates are managed in Settings > Finance for authorized roles.