Exchange Rates

Exchange rates in Vayu enable organizations to maintain contract terms in one currency while invoicing customers in another. This functionality supports global billing operations while preserving the original commercial terms of each contract.

Overview

When a contract is created in a base currency, such as USD, but a customer requires invoicing in a different currency, such as EUR, Vayu can apply currency conversion at the invoice level. This keeps the original contract currency intact while allowing the invoice to reflect the customer's preferred billing currency.

Vayu uses a three-level exchange-rate model across the account, customer, and invoice. This model preserves the original transaction currency while supporting converted reporting and invoice totals.

Configure the Three-Level Exchange-Rate Model

Account Level

The account's home currency is configured in Account Settings and is used as the default currency throughout the account. This is an account-level configuration and is not something clients can change themselves.

Reports, dashboards, and consolidated in-app calculations are converted into the account currency. When source values use another currency, Vayu applies the relevant FX rate while retaining the original amount and currency.

This follows the QuickBooks home-currency model: transactions retain their original currency, while reports display their converted value in the account currency.

Customer Level

Set the customer's currency in Customer Settings. Vayu uses this as the default currency when creating contracts for that customer.

The currency is stored on each contract so it represents the currency in which the contract was signed. Changing the customer's currency affects new contracts only. It does not change existing contracts or invoices.

Invoice Level

Set the invoice currency on the contract. Vayu generates invoices in that currency.

If the contract and invoice currencies differ, Vayu translates the invoice using the latest FX rate. The rate continues updating while the invoice is in Draft or In Review.

When necessary, an authorized user can override the rate manually. Once the invoice is approved, Vayu freezes the applied rate so later FX changes do not alter the approved invoice.

Configure a Customer Currency

To configure currency selection for a customer:

1. Navigate to the Customers page.
2. Select the customer profile you want to modify.
3. Go to Settings > Configuration.
4. In the Invoices subsection, locate the Currency dropdown.
5. Select the desired invoice currency.

Review and Override Invoice Exchange Rates

Once a customer's invoice currency is configured, exchange rates can be reviewed during the invoicing process.

1. Navigate to the specific invoice.
2. Review the applied exchange rate displayed next to the Approve button.
3. If a specific rate is required for that invoice, edit the exchange-rate field directly.
4. If no manual override is provided, Vayu applies the standard exchange-rate snapshot available for the selected currency.

Manual overrides are scoped to the individual invoice. They do not affect the contract's base currency, account currency, or global exchange-rate settings.

Before approving an invoice, verify that the selected invoice currency and applied rate align with the intended financial and commercial workflow.

Technical and API Integration

Exchange-rate behavior is preserved in downstream systems through invoice and accounting integrations.

Manual exchange-rate adjustments are specific to the individual invoice and do not persist to future invoices or the base contract.

Updates to the exchange rate may trigger a line-item recalculation to ensure displayed totals remain accurate relative to the selected currency.

The original contract currency and terms remain unaffected by invoice-level currency overrides.