Currency conversion

How Consult converts between project and base currencies.

This page explains how Consult converts between project and base currencies.

Currency definitions

Consult supports multiple currencies, each defined with:

• A tax type and percentage, such as VAT or GST.
• An exchange rate relative to the base currency, which is marked as primary.

Conversion logic

All currency conversions are calculated relative to the base currency. For example, if AUD has an exchange rate of 12.00 and the base currency is ZAR, then 1 AUD = 12 ZAR.

Changing the base currency

When the base currency changes, all exchange rates must be updated manually to stay accurate relative to the new base.

Warning: Update the exchange rates before the next day, when the rates are persisted to the database.

Exchange rate persistence

Exchange rates are saved nightly. This preserves historical accuracy for previous transactions. For example, if AUD was 12.00 yesterday and is 13.00 today, yesterday’s records still use 12.00.