# Banks, cash and currencies settings

The options of the Accounting settings that concern the bank, cash and currencies, in plain words, from the automatic update of exchange rates to the suspense, transfer and exchange difference accounts.

The options of this app sit on the Accounting settings page, in the **Currencies** and **Default Accounts** groups. Open **Accounting/Configuration/Settings**. The rest of the page, the main currency included, is explained in [Accounting settings](/docs/accounting-start-here/accounting-settings).

## Before you start {#before-you-start}

- Changing the settings needs the **Administrator** access right on **Accounting**.
- The settings belong to the current company; switch company before changing them for another one.

## Currencies {#currencies}

![The automatic update switch in the Currencies group; once ticked it shows the providers count, Manage Providers and Update Now.](https://jaah.app/web/image/10674-33d58ba5/banks-and-cash-settings-rates_switch-en.png)

### Automatic Currency Rate Update {#auto-update}

Shown with the line **Update exchange rates automatically**, once more than one currency is active (activating a second currency in **Accounting/Configuration/Accounting/Currencies** makes the option appear). Off by default, for every company.

When it is on, the daily scheduled update fetches the rates of the active currencies whose **Automatic Update** is on, from the active providers of the company in their order of priority. When it is off, nothing is fetched on its own; **Update Now** on a provider still works.

Once it is ticked, a line below counts the active providers of the company and two links appear:

- **Manage Providers** opens the providers of this company: see [Keep currency rates up to date](keep-currency-rates-up-to-date).
- **Update Now** runs all the active providers of the company at once, in their order, and answers **Currency Rates Updated**, or **No Providers** when none is active.

Click **Save** to apply the change.

## Default Accounts {#default-accounts}

![The Default Accounts group, with the exchange difference accounts and the accounts of the bank transactions.](https://jaah.app/web/image/10678-4542e723/banks-and-cash-settings-default_accounts-en.png)

### Bank transactions and payments {#bank-accounts}

- **Bank Suspense**: the account on which a bank transaction waits until it is matched with what it pays or collects. New bank and cash journals take it as their suspense account.
- **Internal Transfer**: the account money passes through when it moves between two of the company's own bank or cash accounts, so that the transfer leaves one journal and reaches the other.

Both are filled when the package is installed; change them only with your accountant.

### Exchange difference entries {#exchange}

Shown when more than one currency is active. When an invoice or a bill in a foreign currency is paid at a rate different from the one of its date, the difference is recorded in the **Journal** chosen here, on the **Gain** account or on the **Loss** account. The revaluation of open foreign amounts at the end of a period is covered in [Accounting reports](/docs/accounting-reports/prepare-the-tax-and-period-end-figures#revaluation-entry).

## FAQ {#faq}

### I do not see Automatic Currency Rate Update. {#no-switch}

Only one currency is active: activate another one in **Accounting/Configuration/Accounting/Currencies**. The settings page also needs the **Administrator** access right.

### Does ticking it fetch the rates at once? {#at-once}

No. The first rates arrive with the next daily run of the update. Click **Update Now** under the option to fetch them right away.

### Which tasks run by themselves? {#automations}

The page [Banks, cash and currencies automations](banks-and-cash-automations) lists the daily update of the rates and the weekly cleaning of its log.

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- Source: https://jaah.app/docs/banks-and-cash/banks-and-cash-settings
- Updated: 2026-10-23
- Version: Banks, cash and currencies 19.0.3.1.1
- Verified: 2026-10-23