How to set Currency Conversion Rates in NebulaPMS?

How to set Currency Conversion Rates in NebulaPMS?

NebulaPMS allows for multiple currencies to be utilized.

In order to charge, post payments or do Foreign Exchange in NebulaPMS, accepted currencies need to be defined as well as the exchange rates.

To add currencies that are accepted or to update exchange rates follow the below steps:

Currency Conversion Rates Steps
  1. Navigate to Settings > Financials > Currency Conversion
  2. Select the property from the drop down
  3. Next to the property name, you will note the Default Currency, this means that the currency  will be converted to the  Default Currency


  1. Select the currency from the list and click EDIT. If currency is not available, click on ADD
  2. Input the Currency Conversion Rates:

    3. General:                

      1. Currency: Select the currency from the list
      2. Rate: Used when posting rate. The current rate for the currency (excluding commission) charged when posting transactions on a guest folio.
      3. Forex: Used when exchanging money. The current exchange rate (inclusive of exchange commission) used by the property.
      4. Divide Flag: Tick if the currency is weaker than the default currency.
      5. Apply from Date: Select the date when this conversion should start

    Future date conversion:

      1. The future rate will automatically update when the end of day is run.
      2. Change on Date: Select the date when this new conversion should start
      3. New Rate: The new rate to be used when posting charges on guest folios (No commission included).
      4. New Forex: The new exchange rate (inclusive of commission).



 

           6.       Click on Save


PLEASE NOTE 
When to use Divide Flag
  1. When the Default currency is stronger than the currency converting to the Divide flag can be activated. Eg base currency is USD and weaker currency is ZAR, then then 1 USD = 15.13 ZAR

  1. When Default Currency is weaker than the rate converting to the amount should be relative to the converting currency. Eg. Converting ZAR to GBP, the rate will be 1 ZAR = 0.49 GBP

  2. Refer to other articles to assist you in adding accommodation rates in other currencies, how to do foreign exchange, posting charges or payments in foreign currency and generating invoices in foreign currency.