A currency represents a monetary unit used for pricing, purchasing, and financial operations. Beelocity supports multiple currencies for organizations that operate across borders or deal with international suppliers and clients.
Currency Properties
Currencies follow the ISO 4217 standard — the international standard for currency codes. Each currency has:
| Property | Description | Example |
|---|---|---|
| Code | The three-letter ISO code | DZD (Algerian Dinar), EUR (Euro), USD (US Dollar) |
| Name | The full name of the currency | “Algerian Dinar”, “Euro”, “United States Dollar” |
| Symbol | The display symbol used in the interface | DA, EUR, $ |
| Decimal places | How many fractional digits the currency uses | 2 for most currencies (e.g., 1,500.00 DA), 0 for some (e.g., Japanese Yen) |
Why Decimal Places Matter
Different currencies have different precision requirements. The Algerian Dinar uses 2 decimal places (centimes), while the Japanese Yen uses none. Setting the correct number of decimal places ensures prices and calculations are displayed and stored with the right precision for each currency.
Exchange Rates
An exchange rate defines the conversion factor between two currencies at a specific point in time. Exchange rates let Beelocity convert amounts between currencies — for example, when a price list is in EUR but you need to know the equivalent in DZD.
Exchange Rate Properties
| Property | Description |
|---|---|
| From | The foreign currency the rate converts (e.g., EUR). |
| To | Your base currency, the one your books are kept in (e.g., DZD). Filled in for you. |
| Rate | The conversion multiplier (e.g., 1 EUR = 145.50 DZD means the rate is 145.50). |
| Effective date | The date from which this rate is active. |
How Effective Dates Work
Exchange rates are tracked with effective dates, which means Beelocity maintains a historical record of rates over time. This is important for accuracy:
- When you look at a current transaction, the system uses the most recent rate.
- When you look at a historical transaction, the system uses the rate that was active on that date — not today’s rate.
This ensures that historical records remain accurate even as exchange rates fluctuate.
Adding Exchange Rates
When a new rate is entered with a future effective date, the current rate continues to apply until that date arrives. This lets you schedule rate updates in advance.
For example, if today’s EUR/DZD rate is 145.50 and you enter a new rate of 147.00 effective next Monday, all transactions through Sunday will use 145.50, and from Monday onward the system will use 147.00.
Entering an exchange rate
- Open Treasury → Setup and its Exchange rates tab. Or open a currency, then its Exchange rates tab: the form then opens on that currency.
- Click New.
- Pick the foreign currency in From. To is your base currency and is filled in for you, because every rate in Beelocity converts into it.
- Type the Rate your bank gave: what one unit of the foreign currency is worth in your base currency. If 1 EUR buys 147.50 DA, the rate is 147.50.
- Set the Effective date, the first day the rate applies, and click Save.
A currency has one rate per day. A second rate for a day that already has one is refused: correct that rate instead. A treasurer can enter and correct rates, and a foreign trade officer can enter the rate of the day a dossier’s goods or charges need.
Managing Exchange Rates
- Add new rates as rates change.
- View rate history — see all past rates and their effective dates. The tab searches by the other currency’s code or name, and its filter button narrows the history to one From or To currency, a Rate band, or an Effective Date range (see Working with lists).
- Schedule future rates by setting effective dates in the future.
Setting Up Currencies
- Open Treasury → Setup and its Currencies tab.
- Click New to add a new currency.
- Fill in the code, name, symbol, and decimal places.
- Save.
- Enter its exchange rates into your base currency (Entering an exchange rate).
The Currencies page searches by code or name, sorts by any column, and its filter button narrows the list to the Active currencies — the ones a price list or an account can be opened in — or the retired ones (see Working with lists).
Every page that asks for a currency offers the active ones, and only those. Beside the dinar, the euro, the US dollar and the Chinese yuan are active for every organization, for the business that buys abroad. A record that already names a currency switched off since keeps it. Switching a currency on or off is the platform administrator’s.
How Currencies Interact with Price Lists
Each price list is associated with a single currency. If you sell in multiple currencies, create a separate price list for each one:
- Retail DZD — prices in Algerian Dinar for domestic sales.
- Export EUR — prices in Euro for European clients.
- Export USD — prices in US Dollar for other international clients.
Exchange rates are used when you need to compare or convert between these price lists.
Tips
- Set up your primary currency first — for most Algerian businesses, this is DZD. Add other currencies as needed when you start dealing with international partners.
- Update exchange rates regularly — stale rates lead to inaccurate pricing and financial reporting. Establish a cadence for updating rates (weekly, monthly, or whenever rates move significantly).
- Use effective dates, not edits — when a rate changes, add a new rate with the new effective date rather than editing the existing one. This preserves the historical record and ensures past transactions remain accurate.
- Every rate converts into your base currency — a EUR rate of 145.50 means 1 EUR is worth 145.50 DA. Beelocity reads no other pair, so there is no inverse rate to enter.