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Multi-Currency Support

Skwad supports three types of currencies:

Default currency: this is the currency for your Skwad account. It is used for all calculation and display purposes.

Account currency: each account can have a different currency. For example, you can connect both a USD and CAD bank to Skwad.

Transaction currency: this can be different from both the default currency and account currency.

warning

Currency conversion is OFF by default for all accounts due to its complexity. Once on, Skwad gives you the option of using the app conversion rate or entering your own custom rate.

Turning on multi-currency​

Step 1: Set your default currency in Skwad settings​

  1. Go to Settings (under your Skwad).
  2. Find the Currency dropdown and select your default currency. This is the currency used for all calculations and display across the app.
  3. Toggle on Currency conversion. This requires a DIY or LINK plan.
  4. Confirm in the modal that appears. You can read more about how multi-currency works from the link in the confirmation dialog.
tip

Only Skwad captains can change the default currency and enable currency conversion.

How rates work​

Skwad will use the best available rate within a 15 minute window for your transactions, and multiple transactions may share the same rate if they fall within the same window.

Simply edit the app rate to use your own custom rate. Skwad will also automatically pull in rates from OFX & QFX file uploads if your bank provides them.

Managing Rates​

Rates are only available on Desktop web.

Adding new rates​

  1. Head over to the transactions page to add new rates.

  2. Select a few transactions and click on the rates button to update rates in bulk.

Editing existing rates​

A new rates tab will show up after activating multi-currency conversion. Use it to edit existing rates.

Viewing Rates​

After enabling rates, you can view the original amount by activating the original amount column.