Currencies in the platform allow organizations to manage financial data across different modules, including sourcing events, contracts, and savings records.

By adding currencies, users can ensure that suppliers, contracts, and financial records are tracked in the correct currency for accurate reporting and analysis.

Each currency added can have an exchange rate set against the base currency, which ensures that financial calculations remain consistent across all records.

Note: The Base Currency is the default currency your company uses within oboloo and will always appear first in all currency drop downs. This can be updated via the Company Settings page only.

You can find out more about how base currencies work in oboloo here

Only users with the appropriate access can add currencies within oboloo. To find out more about user access rights, please check out this user guide here.

When to Use This Feature

  • If your organization operates internationally and requires multiple currencies.

  • If savings or contracts are denominated in different currencies.

  • If you need to update exchange rates to reflect financial changes.

Step-by-Step Guide

1. Navigate to the Currencies Page

  • Click Settings in the main menu.

  • Select Currencies from the dropdown list.

2. Click "Add New Currency"

  • At the top of the page, click the "Add New Currency" button.

3. Choose a Country and Auto-Populate Currency Details

  • Select a country from the first dropdown list.

  • Once selected, the following fields will auto-populate based on the chosen country:

    • Currency Name

    • Currency Code

    • Currency Symbol

💡 Example: Selecting United States will automatically fill in:

  • Currency Name: US Dollar

  • Currency Code: USD

  • Currency Symbol: $

4. Enter the Exchange Rate

  • Input the exchange rate for the new currency, which defines its value relative to your base currency.

  • The exchange rate should be set based on current market values or internal company policies.

💡 Tip: Exchange rates can be updated at any time under Settings > Currencies.

5. Save the New Currency

  • Click "Add Currency" to confirm and create the new currency.

6. Currency is Now Available!

  • The newly added currency will now appear in all relevant dropdowns, including sourcing events, contracts, and savings records.

  • Users will now be able to select this currency when creating financial records.

Key Considerations & Best Practices

✅ Currencies can be used immediately once added—no additional setup is required.

✅ Exchange rates can be updated at any time, ensuring financial calculations remain accurate.

✅ The base currency is used as the primary financial reference point—ensure all exchange rates are correctly aligned.

Additional Resources

📌 Related User Guides:

📌 Need Further Help?
If you need further assistance, please contact your internal platform administrator for support. Otherwise please reach out to oboloo's support team. If you are unable to view the above area in the oboloo platform, please check your user permissions and access rights.