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‘Menus’ – ‘Setup’ – ‘Currency’

MydaEs allows you to setup multiple currencies for use in your project, to allow you to enter or report against different exchange rates. This can be done under Setup > Currency.

Create New / Modify Existing

You will be presented with the following form from which you will see any previously created currencies.

From here you can press the ‘New’ button to add in a new currency, or double click an existing entry to edit it.

This screen will have several fields that you can customize:

  • Name – Used for selecting on entries or reports.
  • Code – 3 characters. This should be unique.
  • Converter – Relative to the Base currency. If you are unsure what the base currency is, look under Setup > Project Setup.

    Please be aware if this changes after entries have been made against the currency, changing this will only affect new transactions. If a change is required, contact mydaEs Support who will be able to adjust all existing entries to use the new rate.

  • Sign – Displayed on Cheques / Checks etc.
  • Currency Name – Whole unit, ie “Dollar” or “Pound” etc.
  • Currency Coinage – Decimal unit, ie “Cent” or “Pence” etc.
  • PC Custodian Account – This is the default account selected for the Petty Cash Custodian when this currency is in use. This allows you to have different custodian codes for each currency.
  • DB Custodian Account – As above, but for Debit Cards.
  • Locations – You can select which locations you are allowed to use while entering against this currency. This allows you to avoid users accidentally using the wrong location on this currency.


Other Considerations

There are a few other places in Setup that affect your currencies.

Bank Accounts

If you intend to make payments or use the bank reconciliation on this currency, you will need to setup a bank for this currency under Setup > Bank Accounts.


If this currency has GST / VAT, you will need to select your purchase and sales codes and percentages under Setup > GST / VAT Setup.

Default currency for entries

If the bulk of the projects entries will be done in this currency, you may wish to change the default currency under Setup > Project Setup.

Restrict Access to this currency

If you would like to restrict usage this currency to specific users, you can restrict currency access under Setup > User Setup.


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