Example: A UK Business Accepting Payment in South African Rand and Canadian Dollars

1. Open the Settings menu and choose Currency.

The Currencies window appears.

2. Set pound sterling as your base currency, using the drop-down list.

3. Select a number on the list, which has no name attached, e.g. 20, and click Edit.

You now have to enter the name, country, country code and exchange rate (in the æ1 Pound Sterling =Æ box) of the new currency. In this example it is South African Rand.

Because the exchange rate fluctuates, you must agree a rate or set a time (e.g. the open or close of the dayÆs trading) with your customers to enter an up-to-date exchange rate. You must enter this figure following the steps 1 and 3, when you receive the payment.

4. Repeat step 3 for the Canadian Dollar.

Do not select the æfixed euro exchange rateÆ as your currencies are outside of the European Monetary Union.

5. To save your changes and exit, click OK, or to exit without saving click Cancel.

You have now fixed the exchange rate for South African Rand and Canadian Dollars.

Once you have set up your currency defaults, you can calculate your base currency value from the foreign currency by using the euro calculator (which calculates foreign currency exchange rates other than the euro). To do this press F5, whenever you are in any field which requires a currency value (e.g. ænetÆ, æpriceÆ or ægrossÆ field boxes).