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The following provides an overview of the fields that are available to setup in the exchange rates screen.  

Base Currency

This is the currency that users will have the company setup in.  The currency that is associated to the company in the "companies" screen is the base currency that is entered here.

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Note:  This is a manual process.   Users can make updates to these dates internally as needed based on the current exchange rate values.   

Calculations Examples

Given the following:

• Company base currency is USD

• Service costs are in EUR

  • Cost is 100 EUR

• Reservation is in GBP

• Markup rule is 1.10 (10% markup)

• Exchange Rates loaded:

  • Type C (Cost exchange rate)

    • 1.20

    • 1.00 EUR = 1.20 USD

  • Type Q (Quote exchange rate)

    • 0.80

    • 1.00 USD = 0.80 GBP

1. Convert local service cost (EUR) to base cost (USD)

   1. ServiceCost * CostExchange = BaseCost

   2. 100.00 EUR * 1.20 = 120.00 USD

2. Apply markup to get base price

   1. BaseCost * Markup = BasePrice

   2. 120.00 USD * 1.10 = 132.00 USD

3. Convert base price (USD) to quote price (`GBP`)

   1. BasePrice * QuoteExchange = QuotePrice

   2. 132.00 USD * 0.80 = 105.60 GBP