If you have ever explored your View Rates page, you might have spotted a specific field labelled 'Exchange Rate'. We want to ensure you know exactly how all of our tools work!
This feature was designed to help you calculate your "True Revenue" by manually tracking the conversion between your standard base currency (like ZAR) and a foreign currency (like USD)
How it works
When you type a specific number into this field, that exchange rate value is automatically included when you pull a booking summary report. This allows you to easily grab that value and update your net and revenue data, bringing all of your earnings into one unified currency for your financial reporting.
A few things to keep in mind
The biggest thing to remember is that real-world exchange rates fluctuate constantly. Because this field requires you to type in a static, unchanging rate, it cannot automatically keep up with real-time currency shifts in the market.
To use it effectively, you would need to manually adjust it to keep your reporting accurate.
The bottom line:
If you have a reporting routine that relies on a fixed exchange rate, this tool is there for you to use! However, if you don't have a need for it, you can safely ignore it.