Why Do We Need To Set Default Currency To 1?

Why do we need to set default currency to 1?

Answer: The Default currency in Ever Accounting acts as a standard to all other currencies. All currencies are converted in terms of the default currency. Since all other currencies depend on default currency, you need to set default currency to 1. From the previous example, you have seen that the default USD currency rate is set to 1. If the standard rate is set to 1, the conversion becomes easier.