Q: Do your exchange rates automatically update
A: The user can choose for exchange rates to be automated through xe.com or manually overridden. If you have automated your exchange rates, current month values are updated once a week on Sunday.
If you manually override an exchange rate, that rate will stay in the system.
Q: What exchange rate do you use to convert the income statement?
A: The income statement is converted using the average rate for each month.
Q: What exchange rate do you use to convert the balance sheet?
A: The balance sheet is converted using the closing spot rate at the end of each month.