In oboloo’s Savings Management module, all savings amounts are displayed in the organization’s base currency.

To ensure financial consistency across projects, savings created in different currencies are converted using the exchange rate at the time of creation.

This guide explains:

  • How currency conversion works in savings projects

  • How exchange rates are applied

  • How to edit exchange rates for savings milestones

How Currency Conversion Works

1. Exchange Rate at Project Creation

  • When a new savings project is created, you select the project’s currency.

  • The exchange rate used for conversion to the organization’s base currency is automatically applied from the Currencies setting page at the time of project creation.

  • This ensures that all financial data remains consistent across different projects.

2. Savings Dashboard Display

  • The Savings Dashboard always displays savings amounts in the organization’s base currency.

  • The system converts all savings data using the exchange rate set at the time of project creation.

💡 Tip: If exchange rates fluctuate, users can manually update exchange rates for individual milestones to reflect current values.

Editing Exchange Rates for Savings Milestones

If an exchange rate needs to be adjusted for an individual milestone, follow these steps:

1. Navigate to the Savings Management Module

  • Open Savings Management from the main menu.

2. Select the Savings Project

  • Locate and open the savings project where the milestone’s exchange rate needs updating.

3. Go to the Milestones Tab

  • Click on the Milestones tab within the savings project.

4. Edit the Milestone

  • In the Actions column, select Edit next to the milestone.

5. Update the Exchange Rate

  • Locate the "Exchange Rate Against Base Currency" field.

  • Enter the new exchange rate as required.

6. Save Changes

  • Click Save to update the milestone with the new exchange rate.

How Exchange Rate Updates Affect Savings Data

✅ Updated exchange rates affect all milestone calculations and ensure that:

  • Savings values remain accurate based on the latest financial data.

  • The Savings Dashboard reflects updated amounts in the base currency.

💡 Warning: Any changes made to exchange rates under a milestone will immediately update financial figures on the Savings Dashboard.

Key Considerations & Best Practices

✅ Use Consistent Exchange Rates – Ensure that all savings projects follow the correct exchange rates for financial accuracy.

✅ Review Exchange Rates Regularly – If currency fluctuations impact savings projects, consider updating exchange rates for individual milestones.

✅ Use the Base Currency for Reporting – All savings values are converted and reported in the organization’s base currency for consistency.

✅ Monitor Savings Dashboards After Updates – Changes in exchange rates will be reflected in savings reports and analytics.

✅ Utilize the Currencies Knowledge Base – For more details on managing currencies and exchange rates, refer to the Currencies Knowledge Base.

Additional Resources

📌 Related User Guides:

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