Setting up currency
Accessible to: Application Administrator
Multiple currencies are supported in EazeWork HRMS. Currencies which are linked to the country of the company are automatically selected when account is created.
Use "Add New" button to add more currencies manually. Conversion rate which is to be used to convert any currency to default currency can be updated in the table here. Exchange rates are always calculated with reference to the default currency as shown in the image above.
If a currency is not in use you can deactivate it. You can also delete a manually added currency if it is not in use. You can make any currency as "Default", to make a currency as default currency click on Edit button and then click on the radio button.
Note - If you change the default currency then remember to change the conversion rate also. If the conversion rate is changed the impact will only be on expense claims which are submitted after the change.
Example
Suppose you have created an expense head in expense setup and it is linked to USD. As shown below the policy is 10 USD per KM
When an employee claims this head and suppose the voucher currency is INR and
if he enters 100 kms then amount payable would be 100 x 10 x 76.28 = INR 76,286.
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