Adding a currency and setting profit margins in CurrencyXchanger (CXR) | Buy and Sell Rates


In this video I’m going to show you how to add a new currency. Let’s say you have a customer who wants to come in and buy or sell Euros and you haven’t actually got that currency set up in your system yet. You need to go click on the currencies icon. Just double check. You can see once we click all that this is all of the currencies we have entered right now and Euros isn’t in there. So select new on your toolbar. We need to enter in either the country name, or the code if you know it, and then either hit enter on your keypad, double click, or select pick. In this window Euros has come through.
We’re going to display this currency as Euros. We need to bring through the market rate, or the spot rate. You can do this by clicking on this button. You can see our buy rate and our sell rate. Now, this is calculated at 4% currently, which we can change. So let’s change that. Let’s say that we are going to buy it at 3% and we want to sell it at 3.5%. Then you can see above, this is being calculated for your buy and your sell.
Now, if you don’t want to do it by percentage, you can manually change your
buy rate and your sell rate to whatever you would like. I’m going to uncheck this though because I don’t want to apply that. I want to do it at 3.5% and 3%. Now down below we would automatically want to create a cash account in this ledger because we want to trade the Euros. Then place country flag in the invoice. This will give us a quick, easy access button in the invoice for regular transactions that we would do with Euros. We’re going to select that because Euros is a popular currency.
Once we’ve done that we’re going to click save. Euros has been added. I’m going to click all on the menu bar and just make sure we’ve got everything in there. Euros is in there as well. Now you can begin to do a transaction or an invoice with a customer selling or buying Euros.

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