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Prerequisites
  • Your company’s Base Currency is set in Accounts > Company
  • Customers and suppliers have their Currency field populated
  • Exchange rates are defined under Accounts > Currency Exchange
What it does:
Enables you to transact in different currencies, automatically convert amounts to your base currency, and maintain accurate currency-wise balances.Why it matters:
  • Simplifies international trade and vendor/customer management
  • Ensures accurate financials with real-time exchange rates
  • Reduces manual calculation errors and streamlines auditing

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1.0 Steps to Enable and Use Multi-Currency

1.1 Enable Currency Exchange
  1. Go to Accounts > Settings
  2. Check Enable Currency Exchange Rate Management
  3. Click Save
This allows you to manage rates manually or configure automatic rate fetching.
1.2 Maintain Exchange Rates
  1. Navigate to Accounts > Currency Exchange > Currency Exchange List
  2. Click New
  3. Enter:
    • From Currency (e.g., USD)
    • To Currency (your base, e.g., NGN)
    • Exchange Rate
    • Date
  4. Click Save
Update daily for frequent FX transactions.
1.3 Assign Currency to Parties
  1. Open a Customer or Supplier record
  2. Set the Currency field (e.g., EUR)
  3. Click Save
All transactions for that party will default to their assigned currency.

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2.0 Create Transactions in Foreign Currency

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2.1 Sales Invoice

  1. Go to Sales > Sales Invoice > New
  2. Select a customer with a non-base currency
  3. Confirm Currency and Exchange Rate
  4. Add items, then Save and Submit

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2.2 Purchase Invoice

  1. Go to Buying > Purchase Invoice > New
  2. Choose a supplier set to a foreign currency
  3. Verify Currency and Exchange Rate
  4. Save and Submit
With Multi-Currency Support in the CGIC App, you can confidently manage global transactions, maintain precise financial records, and report in both local and foreign currencies—seamlessly and accurately.