Campfire maintains a single, centralised repository for all exchange rates used across your group. Rates can be sourced automatically from major market data providers or entered manually by treasury teams. The system supports multiple rate types including spot rates, average rates, closing rates, and budget rates, ensuring that every transaction and translation uses the appropriate rate for its purpose.
With automated rate feeds, Campfire updates exchange rates on a scheduled basis without manual intervention. Once rates are loaded, they are automatically applied to new transactions, period-end revaluations, and currency translations across all entities. This automation eliminates the risk of stale or inconsistent rates being used in different parts of the organisation and ensures that financial data always reflects current market conditions.
Every rate loaded into Campfire is logged with its source, effective date, and the user who approved it. Rate overrides and manual adjustments are tracked separately, providing a clear audit trail for regulators and auditors. Finance teams can review historical rates at any point and verify that the correct rates were applied to specific transactions or reporting periods.
Why Campfire Stands Out
