Choice of Default Currency

Question asked by Nicholas Steven 10 years ago

We are an autonomous region (covering Europe & Middle East) within a small international self-help fellowship. We currently receive donations from our members in EUR, GBP, PLN, NIS and USD. We also have expenses to pay in EUR, GBP, PLN, NIS and USD. We have a UK based GBP bank account but most of our transactions happen in our Lux based PayPal account (EUR/GBP/PLN/NIS/USD). The majority of PayPal transactions are in EUR and this proportion is likely to increase. The central office of our international fellowship is in the US and reports in USD but we are autonomous and can report to our members in whatever currency we choose. We currently report in USD but EUR may well be a better option going forward.

We are currently testing Clearbooks. My question is, what default currency would be most appropriate to use in Clearbooks?

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2 Replies

Hi Nicholas - as it's fixed, you should pick the one that's likely to be what you need for reporting purposes either most of the time, or longer term.

Best answer
10 years ago

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