Add new currency – CNH

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Hi,

Anyone experience with adding a new currency? I want to add “CNH”, we already have CNY but CNH is slightly different. However when I try to add this it’s not possible because there is no ISO

Rookie Asked on January 14, 2020 in Accounting.
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You can add whatever currency you want. Just put “CNH” (or whatever) in the ISO code field. However, if it’s not a well-recognized currency, you’ll get a notice saying “You entered a non-ISO currency. Non-ISO currencies cannot be automatically updated. Automatic Update for this currency will be turned off. Click OK to continue.”  Then you just click okay, set the default exchange rate, and save.  Going forward you’ll have to update the Currency Exchange Rates manually or through CSV import.  And almost certainly, you’ll have to maintain documentation of those exchange rates you entered for your auditors.

Beginner Answered on January 15, 2020.
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