If you want to simply convert the prices of price list items in your domestic currency using the exchange rate of a foreign currency, you need to set up pricing exchange rates.
If no pricing exchange rate is defined, the item prices will not be converted when a foreign currency is loaded into a document: the price on the document will remain numerically the same as in the price list.
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).
Why the daily exchange rate is not used
The pricing exchange rate is a separate list that has no connection to the daily exchange rate downloaded from the Czech National Bank (ČNB). The daily exchange rate changes every day, and selling prices for foreign customers would change with it. A custom pricing exchange rate therefore allows you to keep the same price in the foreign currency for the entire period, for example for a month.
You always enter the exchange rate as a ratio to the domestic currency, that is, how many Czech korunas correspond to one unit of the foreign currency. The Exchange rate field in the form shows this directly in the text, for example 25.00 CZK per 1 EUR. If you enter the ratio the other way around, the price will come out differently than you expect.
💡 Choose a pricing exchange rate that is more favorable for you than the current daily exchange rate. If it is less favorable, the amount in korunas that you actually invoice after conversion at the daily exchange rate will be lower than the price in the price list, and the difference is 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. In the document's CZK column, this EUR 40 is then converted using the daily exchange rate from the document. If the daily exchange rate is lower, the result in korunas will be lower than the original thousand.
Where to set the exchange rate
You can find pricing exchange rates in Settings under Records, in the Goods and Warehouses group, or by searching for keywords.
Then use the New button in the upper right corner to create a new pricing exchange rate.
The form contains the date from which the exchange rate is valid, the currency, and the exchange rate itself.
If an exchange rate is no longer current for you, there is no need to delete it.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 entered directly in the foreign currency. That price has a higher priority and bypasses the conversion.