Currencies

To pay employees, you need to setup at least one currency for your payroll. If you pay employees in more than one country with different currencies, you will need to set up multiple currencies. After adding a currency, you can specify it as the pay currency when you create new employees. In addition, currencies will apply to invoices and expenses.

See the Basic Operation section for details on viewing, adding, editing and deleting.

 

Currency Tab FIELD DESCRIPTION Status Select the status of the currency from the drop-down box. STATUS DESCRIPTION Enabled The currency is active and is available to be selected. Disabled The currency is inactive and cannot be selected. ISO Currency Select the ISO standard name for the currency from the drop-down box. Name Provide a name for the currency. Base Currency Defines the currency that all exchange rates are based upon. There must be at least one base currency and after it is set, it should not change. Conversion Rate Defines the conversion rate against the selected Base Currency. Default Currency Defines whether or not this is the default currency. Auto Update Allows TimeTrex to automatically update the exchange rate each day. Decimal Places Choose 0 to 4 decimal places from the drop-down box.