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How to Manage Currencies in Odoo 13

Odoo is a universal ERP package that accommodates the global as well as most of the domestic standards. In Odoo, the user can configure multiple currencies for the transaction, set its exchange rate and assign different currencies for individual partners and book of accounts.

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How to Manage Currencies in Odoo 13

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  1. How to Manage Currencies in Odoo13 www.cybrosys.com

  2. INTRODUCTION • An aspiring business organization's Product’s/Service’s scope is not limited to the domestic market but extends to the international market also. • And international transactions always involve the currencies other than the domestic one. • Such an organization's ERP software should have multi-currency support to keep the accounting as well as other related records intact.

  3. Odoo is a universal ERP package that accommodates the global as well as most of the domestic standards. • In Odoo, the user can configure multiple currencies for the transaction, set its exchange rate and assign different currencies for individual partners and book of accounts. • Odoo will allow you to send sales invoices, quotes and purchase orders or receive bills and payments in currencies other than the default/domestic currency. • It is a default feature in Odoo and the user just has to enable the option and configure the values.

  4. Goto Accounting > Configuration > Settings > Enable Multi Currencies > Save

  5. Then Goto > Configuration > Currencies

  6. For create > Click Create button

  7. For create > Click Createbutton.For set rate for the currency > Click Rates smart button

  8. Provide rate for the currency > Save.

  9. To set currency for an account : Goto > Configuration > Chart of Accounts

  10. Create CoA and set currency for account > Save

  11. To set currency for a journal : Goto > Configuration > Journals

  12. Create/Select journals and set currency > Save

  13. For More Details Check our company website for related blogs and Odoo book. Odoo Multi-currency Check our YouTube channel for functional and technical videos in Odoo. How to manage currencies in odoo 13?

  14. Thank You

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