How to Manage Exchange Rates in Laywork

Overview:
Laywork allows you to manage exchange rates effectively, ensuring accurate financial reporting across different currencies.​

Steps:

1. Navigate to Settings → Currency Settings → Exchange Rates.​

2. To add a new exchange rate:​

   • Click Add Exchange Rate.​Salesforce

   • Select the Base Currency and the Target Currency.​

   • Enter the Exchange Rate and the Effective Date.​

   • Click Save.​

3. To edit an existing exchange rate:​

   • Find the exchange rate in the list.​

   • Click Edit, make the necessary changes, and click Save.​

Tips & Best Practices:

• Regularly update exchange rates to reflect current market conditions.​

• Maintain a history of exchange rates for accurate financial tracking.​Upwork Support+5Phrase+5ServiceNow+5

• Use reliable financial sources to obtain exchange rate data.​

Troubleshooting / FAQs:

• Why can't I add a new exchange rate?
  Ensure you have the necessary permissions to manage financial settings.​

• How do I handle historical transactions with past exchange rates?
  Laywork allows you to set the effective date for each exchange rate, ensuring historical accuracy.​Unbabel+2ServiceNow+2Daily Dev+2