Every company in Equidam has one currency, and all of its figures, its valuation and its Benchmarks are shown in it. You change it from the Currency menu at the top of the Financials tab. The currency is saved with the company, so it stays the same when you travel, change browser or log in from another country. The change is only stored when you click Save financials.
How do I change my company's currency?
Pick a new currency in the Currency menu, decide whether to convert your numbers, then click Save financials.
Open the Financials tab of the company you want to change.
Choose the new currency in the Currency menu in the toolbar.
In the Switch currency? panel that opens, choose Keep current numbers or the convert option, shown as Convert € to $ for example.
If you convert, check the exchange rate in the box, then click Ok.
Click Save financials.
Cancel, or closing the panel, puts the menu back to the previous currency and changes nothing.
Should I keep my numbers or convert them?
Keep your numbers if they were already in the new currency and only the label was wrong. Equidam then changes the currency symbol and leaves every amount as it is.
Convert if your numbers were in the old currency. Equidam multiplies your forecast years and your Balance Sheet by the rate and rounds each result to a whole unit. The rate box is pre-filled with the current rate for the pair, to 4 decimals. You can type your own rate, use the undo arrow to restore the suggested one, or use the swap icon to enter the rate the other way round.
Convert only changes the figures on the Financials tab. Past years are not converted, so check any actuals you entered for past years and edit them by hand. Amounts entered on other pages, such as Capital needed on the Funding tab, are not converted either. Check and update them.
Where do the exchange rates come from?
Equidam refreshes its exchange-rate table once a day and uses the latest rates for every conversion. It does not use historical rates for the date of each financial year. If a daily refresh fails, the previous day's rates stay in use.
Some reference values behind the Scorecard method and the Checklist method are set per country and converted into your company's currency. Benchmarks data is stored in US dollars and converted into your company's currency when you open it. Because rates move daily, these converted values can shift slightly from one day to the next, even when your own inputs stay the same.
My figures show the wrong currency. What should I check?
Open the Financials tab and look at the Currency menu. That is the currency stored for this company.
If you changed it but left without clicking Save financials, the change was not stored. Change it again and click Save financials.
If the save failed, for example because the last forecast year is missing revenue or costs, fix the error and click Save financials again.
Check that you are on the right company. Each company and each scenario keeps its own currency, so changing one does not change the others.
If the symbol is right but the amounts were never converted, you chose Keep current numbers. Switch back to the old currency with Keep current numbers, click Save financials, then switch again and choose the convert option.
Your location, your IP address and your browser language do not change a company's currency. Clearing your browser cache will not change it either, because the currency is stored with the company, not in your browser.
Limits
You need edit access to the company. Organisation members with the Guest role are read-only and cannot save a new currency.
The Financials tab can only be saved after the 10-question estimate is complete.
Changing currency is not tied to a plan.
Only the currencies in the Currency menu are supported.
Reports you generated before the change keep the currency they were made in. Generate a new valuation report to get the new currency.
Import Data does not convert amounts. If your documents use another currency than the company, you must tick Save the amounts without converting them to save them as they are.
Common questions
How is my company's currency chosen at the start?
When you create a company, Equidam sets the currency from the country you choose. You can change it afterwards on the Financials tab.
Is the checkout or invoice currency the same as my company's currency?
No. The currency you pay in is a billing setting linked to your organisation's billing details. Changing a company's currency does not change it.
Does changing currency change my valuation?
If you convert, the valuation is recalculated from the converted figures. Country reference values are also converted at the latest rate, so the result can differ slightly from a straight conversion of the old valuation.