Update Trip Costs After Updating the Global Currency Conversion Rates

Modified on Thu, 18 Dec at 2:39 PM

When currency conversion rates change, existing trip costs are not automatically updated. This is intentional, as trip financials are locked to the conversion rate that was in place when the costs were originally added. The Update Currency Conversion Rates option allows you to recalculate costs for a single confirmed trip without affecting other trips or your global settings.

Open the Trip and scroll to the Costs section at the bottom, and select Add. From the dropdown, choose Update Currency Conv. Rates.

Selecting this option opens a confirmation window explaining that any costs on the trip with updated currency conversion rates from your company profile will be recalculated.

Two adjustment types are available.

Adjust Margin recalculates the NETT using the updated conversion rates and applies any difference to the margin, keeping the RACK price the same.
Adjust Rack recalculates the NETT using the updated conversion rates and applies any difference to the RACK price, keeping the margin amount the same.

The Cost History Description will be used as the header for the History entry, making it easy to identify why the cost changes occurred.

Once the adjustment type and history description are set, select Update to apply the changes or Cancel to exit without making updates. All affected costs on that trip are recalculated at once.

To update the global currency conversion rates used for new trips going forward, navigate to Company Profile >> Lists, then select Currency from the drop down. Changes made there apply only to newly created trips and do not modify existing trip costs unless the Update Currency Conversion Rates option is used within a trip. ( Click here to learn more )

And that's how to Update a Trips Costs using the Updated Global Conversion Rates! We hope you found this guide helpful. If you need additional help or want to share your thoughts, reach out at support@myoasisapp.com. We love hearing from you and are always here to help.