The Home Currency feature allows customers with international operations to report in a single, consistent currency. Users can apply precise currency conversion rates—up to four decimal places - using the Bank Spot Rate, ensuring accurate financial reporting across all placements and invoices.

This data integrates with the Actual Fee Dashboard and supports reconciliation with General Ledger accounting systems.

📌 Available in: Placements, Invoices, and Analytics Dashboards.

Key Benefits

With Home Currency, you can:

Ensure Accurate Financial Reporting – Maintain precision with up to four decimal places.
Streamline Multi-Currency Operations – Convert foreign currency transactions efficiently.
Improve Accounting Reconciliation – Align with your General Ledger for seamless reporting.

Set Up Default Home Currency

To set your organisation’s default reporting currency:

Go to Settings, then select Pay & Bill Settings.
Click Home Currency.
Select the desired Home Currency from the dropdown list.
Click Save to apply changes.

💡 Tip

Review your Home Currency annually or after significant regional business changes.

Hide Home Currency

If your organisation does not require Home Currency to display on placements or invoices:

Go to Settings, then select Pay & Bill Settings.
Click Home Currency.
Disable the Show Home Currency toggle.
Click Save.

How Home Currency Works

The Home Currency feature ensures that all profits generated in different currencies can be converted and reported in a unified currency across your system. This supports accurate financial analytics and reporting.

📌 Note: If you change your home currency frequently, you must update the Bank Spot Rate for existing placements and invoices to maintain accuracy.

View Home Currency in Placements

To view or manage Home Currency within a placement:

Open the Placement record.
In the Dates and Calculations section (right-hand panel), locate the Home Currency field.
From here, you can:
- Set a Home Currency for the placement.
- Add a Bank Spot Rate (up to four decimal places).
- Ensure FX rates are accurately applied for invoicing and reporting.

💡 Best Practices

Always verify the Bank Spot Rate before generating invoices.
Update FX rates regularly to reflect current market conditions.
Reconcile currency data monthly to maintain accurate financial dashboards.

🤔 FAQs

Q1: Can I change the currency of a placement once it has been invoiced?

Answer: Yes. You can change the placement currency; however, the numeric value does not automatically convert to the equivalent amount.

Click the Placed chevron.
Select the placement to open it.
Edit the Currency field.
Click Save.

Q2: Can I change the currency of an invoice?

Answer: Yes.

Go to Show More, click on Pay & Bill.
Click on the Invoices Tab, then go to the invoice to open it.
Edit the Currency field.
Click Save, then select Actions > Send to Client.

Q3: The currency symbol updated, but the numeric value did not. What should I do?

Answer: The system updates the currency symbol but not the numeric conversion automatically. For example, changing $1,000 USD to JPY will display ¥1,000 rather than converting the amount.

To correct this:

Ensure the Producer Job linked to the placement is open. If it’s closed, reopen it.
Change the Currency field in the placement to the desired currency.
Manually calculate the equivalent amount using the current exchange rate.
Update the Offer Amount field with the converted value.

📌 Note: