Daily exchange rates import for Exact Online
Entering exchange rates repeatedly is necessary when you conduct a significant amount of business in foreign currencies with countries outside the Euro area. Currency-toolkit.com imports daily exchange rates into one or more Exact Online companies.
Exact Online is a powerful accounting package for your company. You can specify the accounting currency for each company. When entering sales invoices, purchases and other transactions, Exact Online records the original currency and the amount. Exact then translates the foreign currency amount to the value in your accounting currency. Using current exchange rates, you can analyze your financial results more effectively and assess currency risks.
How do you import exchange rates for free?
Execute the following steps:
- Open currency-toolkit.com in the browser.
- Choose the Exact Online country where the company/companies are located.
- Log on by entering the Exact Online user and password.
- Choose the button "Import latest exchange rates".
- The most recently used Exact Online companies and currencies are already filled in.
- When first used, the last-used company and most-used foreign currency are pre-filled.
- Adjust the Exact Online company/companies and currencies when necessary.
- Use the 'Import' button to update the exchange rates in your Exact Online company. Already existing exchange rates will be left unchanged.
Exact Online Companies Using Euros
For Exact Online companies in Euros, the ECB daily published exchange rates for foreign currencies are imported. These ECB daily exchange rates are completed by Invantive with the daily exchange rates from Open Exchange Rates for the days and foreign currencies for which ECB does not issue rates. In total, exchange rates for 210 foreign currencies are available for the past 20 years. In total more than 4 million exchange rates are ready to be imported when necessary.
Exact Online Companies Using Another Currency
For Exact Online companies using currencies other than the Euro such as British Pounds and US Dollars, the latest known exchange rates from Open Exchange Rates are used with 210 foreign currencies. The exchange rate with the Euro is added using ECB data where available.
You can also import exchange rates into an Exact Online template company. Template companies are often used by accountants to set up and keep the master data of companies uniform. When configured correctly, exchange rates are then automatically imported in all companies based on the template. Processing exchange rates through a template administration saves time and ensures uniform administrative processes. The Exact Online helpdesk and consultants will be happy to help you set up a template administration.
Need help importing daily exchange rates?
Questions, suggestions and/or comments? Use the chat button at the bottom right corner or ask a question at https://forums.invantive.com. Although we do not formally provide support for this free Exact Online app, we will try to respond to the questions we receive whenever possible.
By using the exchange rate app, you acknowledge that this app is provided without any guarantee of availability and/or operation. Always check in advance that the app does what you expect it to do.
Why does Invantive offer a free tool for importing exchange rates into Exact Online? Invantive invests money to offer this product. However, it earns us so much goodwill we are often allowed to deliver other products to entrepreneurs and accountants. With the same motivation, we also make the software for XML audit files available for free through Invantive Runtime.
- Permanently free.
- Quick and easy daily exchange rates.
- Works for Exact Online template companies.
- Works for both Euro and non-Euro companies.
- Source ECB for daily rates for 31 foreign currencies on weekdays.
- Source Open Exchange Rates for 182 foreign currencies and non-working days.
- Add historical exchange rates up to a maximum of 20 years ago.
- Choose the Exact Online companies to which the exchange rates should be imported.
- You can choose from all authorized Exact Online companies.
- You can choose from 210 foreign currencies to import exchange rates for.
- You can also import the daily rates into Exact Online from a phone.
- In the 'Exchange Rates' screen under 'Financial' you will see the result.
- If you click on a currency, you will get the exchange rate for each day.