Currencies

Anchor supports multiple currencies for businesses that operate internationally or deal with foreign clients and suppliers.

Setting Up Currencies

Navigate to Tax > Currencies to manage your organization's currencies.

• Base currency - Your primary reporting currency. All reports are generated in this currency.
• Additional currencies - Add currencies you transact in (e.g., USD, EUR, GBP, AUD).

Exchange Rates

Exchange rates convert foreign-currency documents to your base currency. On Tax → Currencies, click New Exchange Rate, choose the Target Currency, enter the Rate (how much 1 unit of your base currency is worth in the target currency) and the Date, then Add Rate.

• Anchor fetches the latest rates every morning (about 08:00 South African time) for your base currency. A rate you enter yourself for a date always wins over a fetched one.
• Anchor uses the most recent rate on or before a document's date, so keep rates current (for example weekly, or on the day of a large invoice).
• Earlier rates are kept, so older documents keep the rate of their own date.
• If there is no rate on or before a foreign-currency document's date, Anchor asks for one before it posts.

Unrealised gains and losses

The Unrealised FX Gains & Losses panel shows, for open foreign-currency invoices and bills, the gain or loss if they were settled at the latest rate, with Gains, Losses and Net Unrealised. On the 1st of each month Anchor also posts this revaluation to your books, dated the last day of the previous month, and reverses it on the 1st, so the gain or loss shows in that month's reports without building up. A month that is locked is skipped.

Multi-Currency Transactions

When creating an invoice or bill in a foreign currency:

1. Select the currency on the document (it fills from the contact's currency)
2. Anchor uses your most recent exchange rate on or before the document date
3. Journal entries record both the foreign and base currency amounts
4. When a payment is recorded at a different rate, the difference posts as a realised exchange gain or loss

Reports

Multi-currency balances appear in reports with both the original and converted amounts. See the Multi-Currency Guide for detailed usage instructions.