Building currencies and exchange rates

Who is this guide for?

For the building manager, who determines the currencies in which the building deals, the default currency, and the conversion value between them.

Before you begin

• The currencies shown on the page are the currencies activated on the platform; If you do not find the currency you need, contact support.

Steps

1. From the side menu, open Finance ← building currencies.
2. In the Available Currencies section, activate the switch next to each currency used by the building, for example: check and dollars.
3. For each activated currency, write the conversion value: how much one unit of it is worth in the default currency. The default currency itself = 1. Example: If the default is check, then the dollar = 3.7.
4. Choose the default currency by clicking Use as default building currency under the desired currency.
5. Click Save building currencies.

Result

The message “Building currencies updated successfully” appears, and a table of the current building currencies collection with currencies, conversion values, and a default badge appears. These currencies become available in funds, dues, bills, and leases.

Important notes

• At least one currency must be selected, and the default currency must be one of the activated currencies.
• The conversion value is only used to display the “approximate total” in the building panels when there is more than one currency; The amounts themselves remain in their currency and are not converted.
• Default currency is what appears as the building's currency in the mobile app.
• If you do not see this list, you do not have permission — contact the building manager.

Who is this guide for?

For the building manager who wants to choose building currencies from mobile.

Steps

1. From the bottom navigation, select More then Settings.
2. In the Financial Settings section, click Currencies. The number of selected currencies and their symbols appear next to it.
3. In the Currencies window (select currencies available in the system) mark each currency used by the building, and unmark all others. Default currency is written under Virtual currency.
4. Click Save.

Result

The list of building currencies is updated and becomes available in funds, dues, and bills.

Important notes

• At least one currency must be selected, otherwise the message “Please select at least one currency” appears.
• Changing the default currency and writing conversion values is available from the web dashboard only (Finance → Building Currencies).
• Saving from the application does not change the conversion values you entered from the web. The new currency you add starts with a conversion value of 1 until you edit it from the web.