Google Sheets is an amazing application used to track and manage financial transactions. It neatly organizes invoices, payments, or investments.
When you start writing numbers on a sheet, by default, those numbers will appear as numbers and not currency. Therefore, all must make some adjustments, if your work is monetary. But don’t worry, we protect you. In this article, I will learn how to change currencies on Google Sheets and get the latest exchange rates. Plus, I’ll see how the Google Finance formula can really help your business.
Apply Currency Format
You have started typing the numbers you need to track your financial records, and now you are wondering how to apply currency formats. This is actually not difficult, just follow these steps:
- Select the column where you want to apply currency.
- Now go to “Format” and click “Number” from the dropdown menu.
- Here you will see different currency options. Tap “Currency”.
This is it. The numbers in the selected column now show the currency symbol. Most likely it will be your country’s default currency. If not, make sure to check the next section.
You should know that you must implement this function whenever you want to have a currency format, because Google Sheets does not save it automatically.
Now, say for some reason the default currency is not what you use in your country – which can sometimes happen. Google Sheets has the option to change it. The steps are as follows:
- Again, select the column where you want the currency to apply.
- Click on “Format” and then on “Number”.
- Scroll down and find “Other Format”. Knock it.
- The “Custom Currency” window will now appear.
- Here you have lots of different currencies, so just choose what you need.
- Finish by clicking “Apply”.
Automatic Currency Conversion
Google Sheets has done an extraordinary job adding lots of currencies because it helps organizations with clients around the world. Additionally, if you are someone who saves money in local and foreign value, Google Sheets gives you a clear review of all your savings. But calculating exchange rates manually can be very time consuming. Luckily, Google Sheets has an option for this too.
Let’s see what you must do first:
- You must have separate columns for each currency. For example, here you have euros, dollars and pounds.
- You must now apply the correct currency for each column. Check the previous section on how to add more currencies.
Now, to convert to other currencies (in this case dollars and euros), all use the formula “Google Finance”:
- Open the cell where you want the conversion to occur.
- Next, open the formula bar.
- Now, type the following: “= Google Finance (” CURRENCY: EURUSD “).
Check that the formula you wrote is the same as what you see here. Note that you must have parentheses, quotes, and capital letters.
Now that you have applied the formula, the value in the selected column will be the same as the currency you want to convert (in this case, euros). So, from the photo, you can see $ 1.13 in the column where we apply the formula. This means that € 1 is equal to $ 1.13.
- In the formula bar, type the following: = D4 * GoogleFinance (“CURRENCY: EURUSD”).
- Now drag down and you will see the exchange rate.
To convert a currency to pounds, you will apply the same formula and only change the currency code. In this case, BGP is the pound currency code.
Remove Currency Alerts
For people who work with monetary data, having a currency symbol is easy. However, if you work with data in only one value, symbols may not be needed for you.
When you format currencies in Google Sheets, the value sign will always appear before the numbers. So if you want to learn how to delete it, there is a way. All you have to do is change cell formatting because it might be set to “Currency” and display the currency symbol. Here’s how to do it:
- Select the column where you want to apply this function.
- Head to “Format” and click “Number”.
- Now you have to click on “Number” from the dropdown menu, not “Currency”.
This is it. Now you will only see the numbers in the column.
If you use it for personal reasons, Google Sheets can be a way to track your monthly budget, expenses, salary, etc. Not only can you manage your finances, but you can also do it using a different currency.
In addition, if you use Google Sheets for your business, you will be able to work with many currencies and easily convert values.