Understanding Currency Conversions

In addressing the challenges of managing global expenses, Keka's Expense and Travel has an efficient currency conversion feature. This tool allows organizations to set various currency conversions, conversion rates and simplifies the process and enhances financial management in the international arena. These currency conversions are used across the Keka system, whenever a currency conversion is required such as expenses and timesheets.

Let us understand the working of the Currency Conversion in detail,

To access the currency conversion tab, click on Org(1) from the left navigation menu. Click on Expense & Travel(2) and navigate to Policies & Settings(3), under this, you can find the Currency Conversions(4) tab, click on it.

Adding a Currency Conversion

To add a currency conversion, click on Add a Conversion(1). 

In the Add Currency Conversion screen, enter the essential details to create a currency conversion. Currency 1 will be considered as the 'from' currency, while Currency 2 will be the 'to' currency. 

Enter a conversion value manually to any one of the boxes and the other value will be calculated automatically. After providing the necessary details, click on Add (2) to save your conversion.

Managing Currency Conversions

To manage columns to display, click on the Three Dots(1). Now you will find the options to display in the column, just uncheck the box if you do not wish to see a particular column and vice versa.

To edit a currency conversion, click on the Pencil Icon under the Actions. 

You will be redirected to the Update Currency Conversion screen. Here, you can make necessary changes to the conversion such as changing currencies and updating the latest conversion value as per the market. The feature of automatic conversion of currency value is under development and will be deployed very soon. After making the necessary changes, click on Update to save your settings. There is no limit on number of currency conversions you can add as many as you need.

Hope this article was helpful. Have more queries? Contact our Product Experts right away!