Step 1: Accessing the Currency Configuration

Let’s begin by opening Swiftly Workspace.

From the homepage:

• Click on Configuration

• Then go to Master Data Management

A new window will open.

Scroll to the Items section and click on Currency.

Step 2: Understanding the Purpose

Managing currencies is essential for global operations.

This feature ensures you can:

• Quote and bill customers in local currencies

• Align with supplier terms

• Maintain consistent, accurate financial data

Currencies can be assigned to invoices, customers, and suppliers, making your workspace flexible and globally ready.

Step 3: Key Attributes of a Currency

When creating a new currency, you’ll define five key attributes:

1. Description

This is the full written-out name of the currency (e.g., US Dollar, Euro, Hungarian Forint).

It provides clarity wherever the currency is referenced.

2. Default Currency

Check this box if the currency should be used as the default across your workspace.

The default currency:

• Is automatically preloaded in most financial fields

• Overrides the exchange rate to always be 1

Only one currency can be active as the default at any time.

3. Decimals

Specify how many decimal places this currency uses — typically 2 for most currencies, but configurable as needed for others (e.g., 0 for Japanese Yen).

4. Exchange Rate

This is the conversion rate relative to the default currency.

If the currency is marked as default, this field will be set to 1 automatically.

Exchange rates can be updated manually as needed to reflect market changes.

5. Symbol

This is the currency symbol that will appear throughout the system and on printouts (e.g., $, €, Ft).

It’s used to clearly indicate currency values wherever amounts are shown.

Step 4: Creating a Currency

To add a new currency:

• Click the “+” button in the top right

• Fill in the description, decimal count, exchange rate, and symbol

• If this will be your default currency, check the default box

Decide if the currency should be active immediately

In this example, we’ll keep it inactive so I can show you how to update it later.

Click Save to confirm your entry.

Step 5: Editing and Activating a Currency

To make updates:

• Click on the currency entry

• This will open the detail/edit view

You can:

• Update the description

• Adjust the decimal count or symbol

• Modify the exchange rate (if it’s not the default)

• Toggle the Active setting

Click Save to apply changes.

Use Save & Close when you’re finished, as it will close the Master Data Management window.

Step 6: Reviewing Currency Logs

To view change history:

• Click the (i) button in the top right

The logs panel will display:

• Who created the entry and when

• Who last updated it

• A full audit trail of changes for financial control

You’ve now successfully:

• Created a new currency with full detail

• Set or updated the default

• Defined decimal precision and exchange rate

• Activated it for use

• Audited the change history