Exchange Rates (Rate Management)
Exchange Rates define the conversion rate between foreign currencies and your base currency. They are used when guests pay in a foreign currency or when rates are quoted in a non-base currency.
Access
Configuration → Rate Management → Exchange Rate
Fields
| Field | Required | Description |
|---|---|---|
| Currency | Yes | The foreign currency (e.g. USD, EUR, THB). |
| Rate (MMK per unit) | Yes | How many units of base currency equal 1 unit of the foreign currency. |
| Valid From | Yes | Start date for this rate. |
| Valid To | No | End date. If blank, the rate is open-ended. |
| Active | Yes | Whether this rate is currently in use. |
How It Works
When a payment is posted in a foreign currency, the system uses the exchange rate valid on the business date to convert the amount to the base currency for folio and reporting purposes.
Example: If 1 USD = 2,100 MMK and a guest pays USD 100, the folio records MMK 210,000.
Multiple Rates Over Time
You can have multiple exchange rate records for the same currency with different validity periods. The system uses the rate whose Valid From date is on or before the transaction date.
Common FAQs
The exchange rate is not applying in the payment modal. Ensure the currency is active in Currencies and the exchange rate has a valid date range covering today's business date.
Should I update exchange rates daily? Update them whenever the rate changes significantly. For properties with high foreign currency volume, daily updates are recommended.
See also
- Currencies — Define which currencies are accepted.
- Cashiering → Exchange Rates — Cashiering-specific exchange rate setup.
- Rate Setup Overview