Exchange Rates

Exchange rates tell Homwe how to convert documents in other currencies into your default currency when they’re posted.

Where to find it

Go to Settings → Exchange Rates. Use the from and to filters to find one currency pair.

Column	What it shows
From / To	The currency pair
Rate	e.g. “$1.00 = R18.50”
Effective	When the rate started applying
Status	Current for the rate in use now, Historical for older rates

Record a rate

1. Click + New.
2. Choose the From currency and To currency.
3. Enter the Rate: how many units of the “to” currency you get for one unit of the “from” currency.
4. Leave Decimal places at 8 unless you need otherwise.
5. Click Create.

You can’t backdate a rate.

The pair you enter is one-way: USD → ZAR and ZAR → USD are separate rates, each with its own Current and Historical history.

If the form won’t save, check the message:

Message	What to do
From and to currencies must differ.	Choose two different currencies.
Rate must be positive.	Enter a rate above zero.
Invalid rate: …	The rate has more decimals than Decimal places allows. Increase decimal places (0–18) or shorten the rate.

Record rates in the right direction

Homwe converts from the document’s currency to your default currency. If your default currency is ZAR and you invoice in USD, record the rate as USD → ZAR. A ZAR → USD rate won’t be used for that conversion.

Rates are never overwritten

You can’t edit or delete a rate. To change a rate, record a new one. The old rate stays in the history so that past documents keep the rate that applied at the time.

Which rate a document uses

When a foreign-currency document is posted, Homwe uses the most recent rate for that currency pair that was recorded before the document’s issue date. A backdated invoice therefore uses the rate from its own date, not today’s.

If there’s no rate for that date, posting stops. Record a rate and post again. Submitting a document for approval needs a rate too.

The rate used is saved with the journal entry, and you can see it on the entry’s detail page.

Permissions

Permissions are given through access levels. Owners and Admins have all of them.

Permission	Lets you
List Exchange Rates	See exchange rates
Manage Exchange Rates	Record new rates. This affects how every foreign-currency document is converted.