Exchange rate services in Business Central let you update your currency exchange rates automatically through a job queue or manually whenever you need to. You enable the service for your base currency, and the system fetches updated rates from an external service. With the standard setup from Abakion, you get up to six predefined exchange rate services to choose from, so you can pick the one that best matches the rates you use for your local currency.
When you enable a service, Business Central offers to set up a job queue for you. You can schedule it to run on specific days, for example every Sunday night. After setting it up, you set the job queue status to Ready and it runs on schedule. You can also trigger an update manually from the currency list by choosing Exchange Rate Services and Update Exchange Rates.
To stop automatic updates, you go back into the exchange rate service and disable it.
Setting up exchange rate services in Business Central
It’s possible to set up exchange rate services that automatically update your exchange rates. You can run them as a batch job, for example every week or every month, or you can update them manually whenever you set up the services.
If you open your currencies, you can see the rates that are running right now along with the last date they were updated. From there, you go into the exchange rate services to configure how the rates get refreshed.
With the standard setup we provide, there are up to six predefined services. You can also create your own. The point is that depending on your local currency, you may want to use a specific exchange rate service that gives you the best match for the exchange rates you rely on.
Enabling a service and creating a job queue
By default, none of the services are enabled. To get started, you enable the one you need, for example the Danish service as a base currency.
When you enable it, Business Central asks if you want to set up a job queue. If you accept, it sets up the job queue automatically for you. You can then deselect specific days if you only want to update on certain days of the week.
After that, go to the process and set the status to Ready. Once it’s set to Ready, it runs on the schedule you defined. In this example, the exchange rates update automatically every Sunday night.
Updating exchange rates manually
Setting up the job queue also gives you the option to update the rates manually. From the currency list, go to Exchange Rate Services and click Update Exchange Rates.
The system then communicates with the service you set up and updates your rates. You can see the dates reflecting the day-to-day rates, and all your rates get updated.
Managing and editing the services
If you want to look at the service you set up, you can open it and manage it. You can edit the different services from there. The predefined options come from our standard setup, and you can adjust them yourself if you need to. As long as one of the default services fits your needs, using it is the easiest approach.
If you want to deselect a service again, go back into it and disable it to turn it off.
Q&A
How do exchange rate services update currency rates in Business Central?
They connect to an external service that fetches updated exchange rates. You can run the update automatically through a job queue on a schedule, or you can trigger it manually from the currency list.
How do I set up automatic exchange rate updates?
Enable the exchange rate service for your base currency. When prompted, accept the job queue setup. Choose which days it should run, then set the process status to Ready. The rates will then update on your chosen schedule, for example every Sunday night.
Can I update exchange rates manually?
Yes. From the currency list, go to Exchange Rate Services and click Update Exchange Rates. The system contacts the service and updates your rates immediately.
How many exchange rate services are available in the standard setup?
The standard setup from Abakion includes up to six predefined services. You can use these or create your own.
How do I stop automatic exchange rate updates?
Go back into the exchange rate service and disable it. That turns off the automatic updates.