Base (Home) Currency
Each organisation file in Saasu has a base currency (aka: home currency) set by the Zone you have chosen. For example, if you chose the “United States” zone, the currency of your file will be in US Dollars.
In handling Foreign Currency Transactions let's say you have used your credit card to pay for something in a foreign currency. Quite often you won’t know what local currency amount you have paid until you receive your bank or credit card statement. One way you can handle this in Saasu is:
- Enter the foreign currency amount in your purchase. This is temporary so that you have a record of the transaction and can attach the receipt to it. Later you will amend the transaction amount to your local currency that the bank or credit card converted the funds at.
- Tick requires follow-up and enter amend transaction amount to be the local currency amount from credit card statement.
- Later, when you receive or download your statement, it will have the local currency amount you need to use when amending the original transaction. You can now use the requires follow-upreport to quickly find transactions like this that need updating to the local currency amount which your account ended up being charged. Don't forget to untick requires follow-up in the transaction when you are finished.
- Attach the receipt to the transaction (if you haven't already) and/or include the Foreign Currency amount in the Notes field. (You can migrate this information to a specific foreign currency field later in Saasu when it becomes available).