Configure Exchange Rates

They help FlightLogger Maintenance convert amounts between currencies so purchase orders, invoices, and cost information can be handled consistently.

Exchange rates are especially important if your account has a base currency, but your suppliers use other currencies.

What exchange rates are used for

Exchange rates support purchasing and invoice workflows.

They may be used when:

Creating purchase orders in a foreign currency
Receiving supplier invoices in another currency
Comparing supplier costs
Tracking costs in the account’s base currency
Working with suppliers in different countries
Reviewing purchase or invoice values over time

The goal is to make sure currency conversion is handled in a controlled and traceable way.

How exchange rates work

An exchange rate defines how one currency converts into another currency.

Each exchange rate includes:

From currency
To currency
Rate
Effective date
Optional end date
Source

The from currency and to currency must be different.

For example, an exchange rate may define how EUR converts to USD, or how GBP converts to EUR.

Manual rates and ECB rates

FlightLogger Maintenance supports different sources of exchange rates.

The main distinction is between:

Manual exchange rates
Central ECB exchange rates

Manual exchange rates

Manual exchange rates are account-specific rates created or managed for your organization.

Manual rates have the highest priority when the system looks up an exchange rate.

Use manual rates when your organization needs to use a specific agreed rate, internal accounting rate, supplier-specific rate, or manually approved rate.

Manual rates are linked to your account and must be created by a user.

Central ECB rates

Central ECB rates are exchange rates fetched from the European Central Bank.

These rates are shared centrally and are EUR-based.

ECB rates can be used when no account-specific manual rate applies.

Central ECB rates cannot be edited directly for your account. If your organization needs a different rate, create a manual override instead.

Exchange rate priority

When FlightLogger Maintenance looks for an exchange rate, it uses a defined order.

The system prioritizes:

Account-specific manual rate
Central ECB rate
Calculated cross-rate from EUR-based ECB rates
Inverse rate, if available

This means that if you create a manual rate for your account, that manual rate takes priority over the central ECB rate for the same currency pair and date.

Effective dates

Exchange rates use effective dates.

The effective date controls when the rate starts being valid.

If multiple rates exist for the same currency pair, the system can use the rate that applies on the relevant date.

This is important because exchange rates change over time.

For example, a purchase order created or received on one date may need a different rate than an invoice processed later.

End dates

A rate may also have an end date.

The end date controls when the rate stops being valid.

Manual rates can be ended when they should no longer apply. This preserves the history of the rate instead of simply removing it from the record.

Reverting a manual override

If a manual account-specific rate should no longer be used, it can be reverted to ECB.

When this happens, the manual override is ended, and the system can use the central ECB rate from that point onward.

This is useful when your organization temporarily used a manual rate but later wants to return to central ECB-based rates.

When to configure exchange rates

You should configure or review exchange rates when:

Your organization buys from suppliers in foreign currencies
Your account uses purchase orders in multiple currencies
Supplier invoices use different currencies
You need account-specific manual rates
You need to override ECB rates
You are preparing purchasing setup before go-live
You are reviewing purchasing or invoice discrepancies
You are importing or reviewing purchasing data

Exchange rates should be reviewed before users begin creating operational purchasing records in foreign currencies.

Where to manage exchange rates

To manage exchange rates:

Go to Administration.
Open Account Settings.
Open Exchange Rates.
Review existing currency pairs and rates.
Create or update manual rates if needed.

Depending on your account setup, Exchange Rates may also be linked from Purchasing-related workflows.

If you cannot see Exchange Rates, your user may not have the required permissions.

Create a manual exchange rate

To create a manual exchange rate:

Open Exchange Rates.
Select the relevant currency pair or create a new rate.
Enter the from currency.
Enter the to currency.
Enter the rate.
Set the effective date.
Add an end date if the rate should only apply for a limited period.
Save the rate.

Manual rates are account-specific and take priority over central ECB rates.

Updating an exchange rate

You may update a manual exchange rate when the rate is incorrect, expired, or no longer matches your organization’s approved rate.

Before updating a rate, consider whether you should:

Edit the existing manual rate
Add a new manual rate with a new effective date
Set an end date on the current rate
Revert to ECB rates

Be careful when changing exchange rates that may affect purchasing or invoice interpretation.

Viewing exchange rate history

Exchange rate history is useful when you need to understand which rate applied at a particular time.

The Exchange Rates area may show rates by currency pair and effective date.

This helps your organization review historical rate changes and understand why a purchasing or invoice value was converted in a certain way.

Bulk upload

Exchange rates may support bulk upload, depending on your permissions and account setup.

Bulk upload can be useful if your organization maintains approved rates outside FlightLogger Maintenance and needs to add multiple rates at once.

Before uploading exchange rates, check that the file contains correct currency codes, rates, and effective dates.

Currency codes

Currencies should use standard three-letter currency codes.

Examples:

The system expects from currency and to currency values to be valid three-character currency codes.

The from currency and to currency cannot be the same.

How exchange rates affect purchasing

Exchange rates can affect purchasing workflows when purchase orders are created, received, or closed in currencies that differ from the account’s base currency.

They help ensure that costs can be understood consistently even when suppliers use different currencies.

If exchange rates are missing or incorrect, purchasing values may be incomplete or misleading.

How exchange rates affect invoices

Invoices may also depend on exchange rates when supplier invoice currency differs from the account’s base currency.

Correct exchange rates help support invoice matching, cost review, and financial consistency.

If an invoice value does not look right, exchange rate setup may be one of the things to review.

Best practices

Review exchange rates before using purchasing in multiple currencies.
Use manual rates only when your organization has a clear reason.
Use effective dates carefully.
Do not edit central ECB rates directly.
Create manual overrides when account-specific rates are required.
Set end dates when a manual rate should stop applying.
Review exchange rates when purchase order or invoice values look unexpected.
Use standard three-letter currency codes.
Keep exchange rate responsibility limited to users who understand purchasing and account setup.

Summary

Exchange rates help FlightLogger Maintenance handle purchasing and invoice workflows across currencies.

Manual account-specific rates have priority over central ECB rates. ECB rates can be used as a fallback when no manual rate applies. Rates are controlled by currency pair, effective date, source, and optional end date.

Configuring exchange rates carefully helps your organization keep purchasing and invoice values consistent when working with multiple currencies.