Note: Even though it may be visible on your account, this action will only work on QuickBooks Online with Multi-Currency enabled.
The Retrieve Exchange Rate action will return an exchange rate (compared to the company's home currency) when given a currency code and a date. This exchange rate can then be used in an action such as Calculate Currency Conversion.
- Currency - This is the currency code of a customer to compare the home currency to. You can find this in the Customer table, using the display of the Currency field.
- Using this Date - Considering exchange rates change, specify the date of exchange. Usually, this is this transaction date.
- Place the Value Here - Where you wish to store the exchange rate.
For a real life example, you may check any transaction page on a multi-currency enabled QuickBooks Online account.
In the below example, we will assume a customer has been selected in a transaction (e.g. Invoice) which will provide the following on screen: Customer Name, Transaction Date (TxnDate), and Amount.
- Using the action Retrieve Values From Table, the currency code is retrieved from a customer and placed into an action result called resultCustomerCurrencyCode. Note the display of the Currency field is retrieved, not its Record ID:
- Using the action Retrieve Exchange Rate, we will use the currency code retrieved above and the Transaction Date (TxnDate) to get the exchange rate and place it into the action result resultExchangeRate:
- Using the action Calculate Currency Conversion, we can now convert the Amount and place it into an action result of our choice: