Currencies

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:

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

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.

Managing Exchange Rates

From the currency list, click on a currency to open its page, then manage its exchange rates:

• Add new rates as rates change.
• View rate history — see all past rates and their effective dates.
• Schedule future rates by setting effective dates in the future.

Setting Up Currencies

1. Navigate to Currencies from the Products section.
2. Click Create Currency to add a new currency.
3. Fill in the code, name, symbol, and decimal places.
4. Save.
5. Add exchange rates to define how this currency converts to and from other currencies.

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.
• One exchange rate per direction — an EUR-to-DZD rate of 145.50 means you need 145.50 DZD to buy 1 EUR. If you also need DZD-to-EUR conversions, add the inverse rate (1 DZD = 0.00687 EUR) as a separate entry.