As many of you place candidates internationally you might have to calculate your fees in the country of placement using the local currency, otherwise, known as local fees.
We have included a local fee calculator in the placement record that will enable you to convert the local fee back to your base currency.
Here is how to set up the exchange rates
- Firstly from the main menu go to 'Admin'.
- On the 'Company Tab' you will need to set your Default Base Currency, this is set in the Currency field by selecting it from the drop-down list.
- Once you have selected the currency click 'Save'.
- Once you have set your default currency you can then select to use a fixed conversion or automated exchange rate.
- To set the exchange rate mechanism click the 'Convert' button.
- You will then see the following pop-up.
Note that UK Sterling (GBP) is set as the base currency in the pop and the rate is set to 1.
- You now select to automatically have the rates refresh at 4.00pm each day or enter a fixed value into the corresponding rate field as the exchange rate to use in the placement record.