Set up currencies

To set up your currencies

Open: Accounting System Manager > Settings > Currencies and Exchange Rates | Settings.

  1. To add a currency, click Add Currency. A new line appears. Enter the currency details.

    Amend the currency details on the relevant line.

  2. Enter or amend the following details:

    Symbol The symbol for the currency to be used in Sage 200 when entering values in that currency.
    Name The name of the currency to be used in all currency drop-down lists.
    ISO The International Organisation for Standardisation code must be assigned from the list generated by Sage 200.


    Select True from the drop-down list to set the base currency. This option must only be set on your base currency. This is the currency that is normally used by your company to carry out business transactions.

    Note: Once you have posted transactions and accounts using the base currency, you cannot change the base currency. The Change Base Currency button no longer appears on the Settings tab.

    To be compliant with legislation and produce and accurate VAT return, we strongly recommend using the following combinations of country code and base currency in Sage 200:

    • UK: VAT country code GB - Great Britain, and base currency GBP - Pounds Sterling.
    • Ireland: VAT country code IE – Ireland, and base currency EUR - Euro.

    The rows in this column have a drop-down list. These lists have options that allow you to control when and where a currency can be changed in Sage 200. You can select from the following options:

    Not Amendable: On entering a transaction the exchange rate cannot be changed manually. The value always comes from the exchange rates table.

    Amendable- Cash Postings Only: The rate can only be changed when entering payment or receipt postings through the relevant ledger in the Cash Book module.

    Amendable -All: The rate can be changed when entering any transaction type.

    Fixed to Euro: The rate to Euro is specified on the Exchange Rates tab, The currency will fluctuate whenever the Euro rate changes. This option is normally used prior to a country joining the Euro.

    Rate Type

    Choose the rate type you want to assign to a currency from the following list:

    Single: One amendable rate is associated with the currency.

    Period: A list of rates can be assigned to the currency, each with an expiry date.

    When a transaction is entered, the system uses the transaction date and the exchange rate expiry date to calculate which period exchange rate to use. If a transaction date falls after the last exchange rate set up, the transaction uses the latest period exchange rate available.

    Single & Period: When a Sales Ledger or Purchase Ledger account is linked to a currency using this option you can select the Single exchange rate or Period exchange rate currency option on the customer or supplier account Company tab. This is useful when you have agreed to set an exchange rate with an individual customer.


    If you select Single & Period for the Rate Type, only the Single rate is used in the following circumstances:

    • Nominal vatable and non- vatable payments and receipts
    • If you are doing an Inter Account Transfer in the Cash Book.
    • If you are consolidating between two companies that have different base currencies, where the parent company currency Rate Type is Single & Period.
    Used for New Accounts If you clear this check box on any currency line, the associated currency will not be available for selection when setting up new accounts.
    Nominal Code A nominal code can be specified, per currency to record exchange gain/loss on any postings. If there are currency fluctuations between the time the invoice is sent out and paid, the amount is posted to this nominal account.
  3. To print a list of the currency settings, click Print.
  4. To save the currency settings, click OK.