Adding currencies

If your company operates in multiple countries or works with international suppliers and customers, you can add currencies to Usystems so you can invoice, purchase, and report in your local and foreign currencies.

Before you start

• You need admin permissions to add currencies.
• Your company's default currency is set during initial setup and cannot be changed; you add currencies in addition to it.
• You must know the ISO 4217 currency code (e.g., AFN, USD, EUR, PKR) for the currency you want to add.
• If you enable multi-currency, you will also need to set exchange rates between your currencies.

Steps

1. Go to Settings → Currencies or Company Setup → Currencies. Open in Usystems

2. Click Add Currency or Add New.

3. Enter or select the currency code (e.g., USD for US Dollar).

4. The system may auto-populate the currency name and symbol (e.g., $ for USD). Review and correct if needed.

5. Click Save or Add to confirm.

6. Repeat for each additional currency.

7. Verify all currencies appear in the currency list.

Accounting impact

Adding a currency does not immediately change how transactions are recorded—it only makes the currency available for use on new documents. When you record a transaction in a foreign currency, Usystems will convert amounts to your default currency for accounting and reporting purposes, using the exchange rates you have set.

Tips & common mistakes

• Add currencies before you need them. Set up all currencies during company setup so team members can use them consistently from day one.
• Use standard ISO codes. Stick to the official ISO 4217 codes (AFN, USD, EUR, etc.) so the currency is instantly recognizable to your team and auditors.
• Update exchange rates regularly. After adding a foreign currency, establish a regular schedule to update exchange rates so your financial statements remain accurate (see "Setting and updating exchange rates").
• Start simple. If you only work in one currency occasionally, consider whether multi-currency is needed; it adds complexity to reporting and reconciliation.