What
Use exchange rates to control how values are converted between currencies in Teamwork.com.
Why
  • Use your organization's agreed rates instead of relying only on market exchange rates.
  • Keep currency conversions consistent for financial reporting, budgeting, and billing workflows.
  • Maintain historical exchange rate periods so rates can reflect the date range they apply to.
Who
  • Site owners and site admins can manage currency settings and custom exchange rates.
When
  • When your finance team, client contract, or reporting process requires a specific exchange rate for a currency pair.
← Swipe to scroll

On this page

Before you start

  • Market exchange rates: Teamwork.com can use automatically provided market exchange rates for currency conversions.
  • Custom exchange rates: You can define your own exchange rate between two currencies when your organization needs to use an agreed or fixed rate.
  • Exchange rate periods: Custom exchange rates can apply from today or across a selected date range.
📚
Exchange rates are available when multi-currency is enabled on your site. Learn how to enable and manage multiple currencies before configuring custom exchange rates.

How exchange rates work

Exchange rates determine how Teamwork.com converts values from one currency to another.

Teamwork.com supports two types of exchange rates:
  • Market exchange rates: Automatically provided rates used for currency conversion.
  • Custom exchange rates: Rates created by your organization for a specific currency pair and date period.
By default, Teamwork.com can use market exchange rates for currency conversions. If your organization requires a specific rate, you can create a custom exchange rate and define when that rate applies.

If no custom exchange rate applies for a currency pair and date, Teamwork.com uses the available market exchange rate.

Custom exchange rates

Custom exchange rates let you override the market rate for a currency pair. Use them when the rate used for financial work needs to match an internal finance process, a client agreement, or a reporting period.

Custom exchange rates are managed in Settings > Currencies > Custom exchange rates.

Common use cases

Use custom exchange rates when currency conversions need to follow an agreed, finance-approved, or period-specific rate instead of relying only on market exchange rates.
Finance-approved rates
Use rates provided by your finance team for internal reporting, accounting alignment, or other finance-led processes.
Client-agreed rates
Use a rate agreed with a client so currency conversions align with the terms agreed for a billing period or engagement.
Reporting periods
Apply a specific rate for a month, quarter, or other reporting period so values are converted consistently across that period.
Budget planning
Keep planned values consistent by using a defined rate for the relevant planning or budgeting period.

Create a custom exchange rate

Create a custom exchange rate when your organization needs to use a specific rate for a currency pair and date period.

  1. Click your profile icon in Teamwork.com's main navigation menu.
  2. Select Settings.
  3. Go to the Currencies tab.
  4. In the Custom exchange rates section, click Add custom exchange rate.
  5. In the Add custom exchange rate panel, select the From currency.

  6. Select the To currency.
  7. Enter the exchange rate in the Rate field.
  8. Under Apply this rate, choose when the rate should apply:
    • From today: Apply the rate from the current date onward.
    • Select dates: Apply the rate across a selected date range.
  9. Click Add rate period.
Overlapping rate periods
If dates overlap with existing custom rate periods, saving the new rate period will trim or delete those existing periods.

Manage exchange rate periods

Custom exchange rates can be managed over time using exchange rate periods. This allows you to keep a record of rates that apply to different dates or reporting periods.

Use rate periods to:
  • Create a rate that applies from today.
  • Create a rate for a selected date range.
  • Review existing and historical custom exchange rate periods.

When adding a custom exchange rate, the Custom exchange rate history section shows the rate periods associated with that currency pair.

Market exchange rates

Market exchange rates are the default rates Teamwork.com can use when converting values between currencies.

In Settings > Currencies, use the Market exchange rates section to view the rates used if no custom rate is set. Select a From currency, then click View rates to review the available market rates for that currency.

Exchange rates settings page


Best practices

  • Confirm the currency pair: Make sure the source and target currencies are correct before saving a rate.
  • Check the effective dates: Use the correct start date or date range for the rate period.
  • Review overlapping periods: Check whether the new rate period overlaps with existing custom rate periods before saving.
  • Align with finance: Use rates approved by the team responsible for financial reporting or billing decisions.
  • Review rates regularly: Keep custom rates up to date when your reporting period, client agreement, or internal process changes.
  • Use custom rates only where needed: Market exchange rates can continue to support standard currency conversion when no custom rate is required.