Skip to content

Foreign currency

Read Vouchers → Foreign currency and FIN-034.

What holds today: a foreign-currency transaction is recorded in INR at the rate on the transaction date, the rate is stored on the entry and the original amount, currency and rate on each line. Airline-block and FIT purchase, initial-payment and adjustment vouchers refuse to post without a rate, and group P&L refuses to count a foreign contract that has none — neither silently assumes 1.0, which is what they used to do.

What does not: the realised gain and loss calculation runs in the browser, not the database. FIN-034 records that as a gap.

Keeping the rates

Rates live in Finance → Settings → Exchange Rate Management (and in Admin → Currencies → Exchange Rates, the same table). Only a holder of finance.rates.manage can add, change or delete one, or press Refresh Rates. The finance manager, the accountant and leadership hold it (FIN-046, permissions). Everyone else sees the rates and cannot change them.

  • Rate from defaults to today in India. A later date is refused.
  • An earlier date asks for a reason (at least 3 characters). Receipts, contracts and bills dated from that day convert at the new rate, so the reason is kept in the audit trail with who set it.
  • A rate counts from its date to its expiry date, both included. A new rate closes the older open-ended one on its own date. A rate past its expiry is not used.
  • With no rate in force, the newest rate from the live feed's cache is used, whatever its age. With none at all, a foreign receipt, meal contract or visa bill is refused.

A payment in another currency

Recording a payment in a currency other than the booking's: the amount is converted into the booking's currency at the rate in force on the date received, and the receipt keeps the amount, currency and rate that arrived. The receipt voucher posts in rupees at the rate on or before that date. No exchange gain or loss is recorded on a receipt — that is the gap in FIN-034. On the phone, Take payment takes the amount in the booking's own currency and does not convert; a rupee payment on a riyal or dollar booking is recorded on the website.