If you want to convert price list item prices in the home currency using a specific foreign exchange rate, you need to set up pricing exchange rates.
If a pricing exchange rate is not specified, item prices will not be converted when a foreign currency is loaded into a document.
The exchange rate is not updated automatically in any way. You need to enter it manually and update it as needed (or create a new one with the relevant date, as applicable).
Why the daily exchange rate isn't used
The pricing exchange rate is a separate list that has no connection to the daily exchange rate downloaded from the Czech National Bank. The daily exchange rate changes every day, and sales prices for foreign customers would change with it as well. A custom pricing exchange rate therefore allows you to keep the same price in a foreign currency throughout a period, for example for a whole month.
You always enter the exchange rate as a ratio to the domestic currency, i.e., how many crowns correspond to one unit of the foreign currency. If you enter the ratio in reverse, the resulting price will differ from what you expect.
💡 Choose a pricing exchange rate that is more favorable to you than the current daily exchange rate. If it is less favorable, the amount in crowns that you actually invoice after conversion using the daily exchange rate will be lower than the price list price, and the difference will be a loss for you.
If you sell an item for CZK 1,000 and set the pricing exchange rate to CZK 25 per euro, EUR 40 will be entered on the document in euros. This EUR 40 is then converted to the crown column of the document using the document's daily exchange rate. If the daily exchange rate is lower, the result in crowns will be lower than the original one thousand.
ℹ️ If a price was converted using the pricing exchange rate, the unit price field on the document is highlighted in color. Hovering over this field shows information that a pricing exchange rate was used. This is the fastest way to tell on a document where the price in a foreign currency came from.
Where to set the exchange rate
You'll find pricing exchange rates via the following path:
Tools -> Code lists -> Pricing exchange rates
If an exchange rate is no longer current for you, there's no need to delete it. Simply create a new one valid from a more recent date. The most recent exchange rate valid as of the document date is always used.
You can find a detailed description of the individual form fields in the description of this code list.
ℹ️ The pricing exchange rate does not apply where an item has an individual price specified directly in a foreign currency. This has higher priority and bypasses the conversion.