As an added feature, VISCO users can now have the default exchange rates for each of the currencies in which they do business updated automatically.
Using an API, we now pull Exchange rates at 4:00 AM (Eastern) every day from http://fixer.io/
The rates will be updated for all currencies in the “Currency Code” table as of 4:00 AM with the FX rate pair compared to your base currency.
Any new Sales Orders or Purchase Orders pull the exchange rate from the default exchange rate table at the time the orders are created. However, users are able to manually adjust the specific rates for each of the transactions by using the “Update Exchange Rate” link in both Purchase Order and Sales Order menu.
The rules around how the rates are passed to the accounting system will vary depending on the accounting system but most accounting systems will accept the Currency and FX rate that we pass down on invoice and cost post.
All new customers will receive the automatic rate update function by default but existing customers will need to request to have the rates updated automatically. There is no cost for this feature.
