SageForum for UK versions of Sage 50- Help and support.

Hi,
I am using v15 and I am trying to transfer funds from my USD bank account to another bank account set up also in USD. When I try and complete the transfer I get an error message stating "One or more of the accounts used in this transfer has no exchange rate to the base currency" so I can not complete the transaction. I am new to dealing with foreign currency in SAGE and it is giving me a few headaches to say the least. If someone could please shed some light on this it would be greatly appreciated. Thank you

The error message suggests that whilst they may be set up in USD the exchange rate between USD and GBP (or whatever your base currency is) has not been set.

Behind every foreign currency transaction a transaction also happens in the base currency if the exchange rate is zero then the base currency value is infinite and so sage throws an error.

Cool I understand thanks, but how do I overcome this error, where can I set this so that Ican transfer funds between accounts?

Thank you

How to set the Exchange rate in Sage 50 V2008 (V15)

In Sage 50 go to "Settings" menu
Select "Currencies"
Select the currency you want to set the exchange rate of eg No2 US$
Enter the Exchange rate in the Box marked Exchange Rate eg 1.61
Press the close button

Thank you for the info, obviously the exchange rate will change daily does this matter - sorry I don't mean to sound like a complete twit but I am new to the whole foreign currency transactions.... I know the reval takes place but should I have set a rate previously??

Yes