Closing Rates

View the month-end rates your reports use, pin your own closing rate and reset it to the source.

The month-end rates behind your reports, and your own when you need it

At every month end, Officaid values your open foreign currency invoices, bills and balances at a closing rate. The Closing rates page shows each of those rates and where it came from, and lets you pin your own rate, for example the rate your bank used at your financial year end.

Opening the Closing Rates Page

1 Go to Admin → Company.
2 On the Overview, under Quick Actions, click Foreign Exchange.
3 In the Closing rates section, click Open Closing Rates.

Reading the List

The page lists one row per month end of the chosen financial year for each foreign currency you use. The year-end row is marked Year End. Each row shows:

Date is the month end
Currency is the foreign currency
Rate is the closing rate in SGD per unit of the currency
Source is where the rate came from. When a month end has no rate of its own, it shows the rate used instead, for example "Officaid Rates rate of 30 Jan 2026".
Actions lets you change the rate or reset it

Month ends that have not happened yet show Not yet available.

Use the year and currency filters and Search to find a row. The page also shows how many rates you have pinned, for example "Pinned rates: 1".

Pinning Your Own Closing Rate

1 On the row you want, click Change.
2 In Change closing rate, the Date, Currency and Rate are filled in. Enter your rate.
3 Choose the Source: MAS, Bank or Other, and add Notes if you like.
4 Click Save.

The row now shows who pinned it and when, for example "Pinned (Bank) by" followed by the user, the date and time, and your note. Every report for that date uses your rate.

Going Back to the Source Rate

1 On a pinned row, click Reset to source.
2 Confirm the message, for example "Remove the pinned rate of USD 31 Jan 2026?".

The row goes back to the rate from your rate source.

Pinning and resetting a closing rate are recorded in Admin → Audit Log.

Frequently Asked Questions

Where do the closing rates come from?

From the rate source your company chooses under Admin → Company → Foreign Exchange: MAS or Officaid Rates. See How Exchange Rates Work.

When should I pin a rate?

When a date matters and you want a specific rate, for example the rate on your bank statement at your financial year end.

What's Next?

How Exchange Rates Work – choose your rate source
Exchange Gains and Losses – see the gains and losses in your Profit & Loss
Foreign Exchange Tax Schedule – exchange gains and losses for your tax agent

multi-currency exchange rates closing rates year end reports