Set Up Currencies (1205 onwards)

Created by Migration Bot, Modified on Fri, 23 Oct at 2:31 PM by Migration Bot

Originally written by John Hardwick, last updated Jan 30, 2026, on the Swan Retail knowledge base (FRS).

This routine is only required if purchasing products from suppliers who trade in foreign currencies.

SwanFRS is a base currency only system for retail sales, i.e. it is not possible to receive payments in multi-currencies. This routine is used within the purchasing suite and allows a purchase order, invoice etc to be toggled between the retailer’s and the supplier’s base currencies.

Menu Location: System Admin > Purchasing > Set Up Currencies

Click the NEW button or New on the side panel to generate a new record.
Click the icon to amend an existing record.
Once in amend / insert more, click the to save changes or to abort the action.
Click the CLOSE button, or Back option on the side panel to leave the page (or select another option from the menu)

Item	Description
Currency Code	Specify the code you wish to use to identify the foreign currency.
ISO Code	Specify the international code for this currency.
Description	Specify the name you use for this currency.
Currency Exchange Rate	Specify the current prevailing exchange rate to be used when converting base currency into foreign currency.
Exchange Rates	When viewing the record, clicking the VIEW RATES button presents a history of exchange rates for this currency. Clicking the NEW button creates a new record. Click CLOSE to return to the main screen.
Is Base Currency	Tick to indicate this is the base currency. I.e., the retailer's base currency. When using foreign currency, it is necessary to specify the local currency which should be set against the supplier’s record.
Is Active	Tick to allow this currency rate to be assigned to suppliers.