Daily Exchange Rates

Finance maintains Daily Exchange Rates when an entity needs a dated currency rate for its transactions. Confirm the approved rate and its direction before entering it. A rate entered here does not change the rate already saved on an existing document.

Before you start

• Access: Select the entity whose transactions need the rate. You need Firm Admin access.
• Where: Open Setup > Daily Exchange Rates from the top menu, or Setup > Company > Daily Exchange Rates from the side menu.

Confirm the transaction date, From Currency, To Currency, and approved rate with the person responsible for foreign-currency accounting. Enter the rate as From Currency × Rate = To Currency. Documents use the rate for their exact transaction date. If no rate exists for that date, the document shows 1.000. Versa uses a reciprocal only when the reverse pair exists.

Add or update a rate

1. Select Add Exchange Rate.
2. Enter Rate Date (From). Enter Rate Date (To) only if the same rate should apply to every date in a range.
3. Select From Currency and To Currency, and enter the approved Rate.
4. Select Save. For a single date, the window closes and the rate appears in the list. A date range reloads the page. If an error appears, correct the entry and select Save again.
5. Open Filters, choose the relevant dates and currencies, and select Filter to check the saved entries.

A date range overwrites existing rates for that currency pair on every date within the range. Some dates may save while others fail. Review the listed failed dates. Versa refuses a Rate Date (To) earlier than Rate Date (From). Agree on any replacement with finance before saving a range.

Correct, import, or export rates

Use the pencil icon to edit a row. Select the check mark or press Enter to save an inline change. Use the trash icon to delete a row after confirming the intended date and pair. Changing a daily rate does not change the exchange rate already saved on an existing document, so review that document separately if it needs correction.

For a file import, open the Import Daily Exchange Rates tab and select Upload Daily Exchange Rate. The import updates an existing row with the same date and currency pair. Review the file and spot-check saved rows with finance. For export, select Export, enter Date From and Date To, then select Export CSV. The CSV covers only the selected entity's rates and does not follow the list filters.

If you don't see what you expect

• A rate is missing from the list: Check the selected entity and open Filters to review the date and currency selections.
• The page is unavailable: Ask your administrator to confirm Firm Admin access.
• A document shows 1.000: Check for a rate on that exact transaction date and in the needed currency direction. Compare the document's saved rate with finance before changing an existing entry.

Setup > Exchange Rates for Consolidation uses accounting-period average and ending rates for a different reporting workflow. Maintain those separately from daily transaction rates.