How are exchange rates applied in DataDear?

Learn how to DataDear uses exchange rates across the various reports and data tables.

DataDear handles exchange rates in a number of ways depending on where this information is required. Exchange rates can also be downloaded through a special DataDear report after you login to the Excel add-in.

:bulb: This article applies to both single organisations and for a group of organisations / companies and works for Xero and QuickBooks Online.

Data Tables & Reports

The rate of exchange used in a data table or in a report is usually taken care of by the accounting application and would typically be listed as part of the table. In the example below, this multi-currency Xero organisation has a conversion of USD and GBP to EUR values.

Group Conversions

DataDear Groups exchange rate is not available. In this case, DataDear extracts the rate from an external service (openexchange) and uses the spot rate as at end of month/period selected in the parameters window of the report:

  • Month to date would be the end of the month
  • YTD - end of the year
  • Quarter - end of the quarter

Exchange Rates Report

DataDear provides an option to download the Exchange Rates report in any base currencies:

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Available reports are:

  • End of Day (EOD) value for selected date
  • EOD values for each day of the selected month
  • EOD values and comparative monthly value for the next 12 months