Do you use Twinfield for one or more accounting systems? And do you do business outside of the eurozone? In that case, you are likely to encounter foreign currencies. Twinfield is capable of processing foreign currencies. There are various ways to add (foreign) currencies and update exchange rates. You can do so manually, through data imports or through an automated link.
Adding exchange rates to Twinfield through an automated link
You can set up the process of updating exchange rates and reading currencies into Twinfield in such a way that you’ll barely have to worry about a thing. This is possible through the automatic read-in of exchange rates. This approach does not require you to import any files. Thanks to the automatic iQurrency link, the read-in process is very straightforward. This online service automatically updates currency exchange rates daily in Twinfield and Exact accounting systems.
This service is fast and flawless. Thanks to the link to the ECB and Open Exchange Rates (OER), this service supports over 200 currency values.
Watch the explanation video (2 minutes)
You can try iQurrency by using our 1-month free trial. If it does not meet your expectations, you may cancel without any charges. Testing the programme is very easy, as you can link your accounting system(s) within minutes and there are no installation and start-up fees.
That’s how you do it
Not quite ready for this automated solution?
You can also adjust exchange rates manually or using an import
Manually adjusting exchange rates
Manually adding and adjusting foreign currencies in Twinfield is possible using the following method. Go to settings -> administration settings -> currencies. Here, you can add foreign currencies based on the ISO code of the currency in question. You can adjust the exchange rate in the exchange rate tab.
Importing exchange rates into Twinfield
If the exchange rates are listed in a spreadsheet and exported as an XML file, they can be imported into Twinfield. The XML file does need to meet various conditions, however. Twinfield has made an Excel template available to help you with this. You can upload this file via file management in Twinfield.
Avoid errors and save time.
You’ll find that manually adjusting or periodically importing data requires regular action on your part, which you’ll have to remember. Errors may occur, or you may forget to update the data. These issues can be avoided by using our automated link. Do you have any questions or would you like to know more about our service? Get in touch, and we’ll gladly help you.