---
title: Managing currencies and costs
slug: managing-currencies-and-costs
docTags:
createdAt: 2022-06-21T15:24:46.000Z
---
The **Currencies & costs** page lets you manage the currencies used by your organization, as well as set up currency defaults and cost multipliers. The features within this page help make managing currencies and costs a transparent and visible process.
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Currency rates are populated using currencylayer. [currencylayer](https://currencylayer.com/) is an API service that provides updated and accurate currency data for use with ChartHop. Conversion rates are updated on the first of each month.
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- In the **Currencies** section, you can add and delete multiple currencies, set a default currency, view the currency rates being used (as well as their source), view past currency rates, and set custom currency rates for your organization.
- In the **Smart currency defaults** section, you can set smart defaults for how currency is applied to monetary values without a defined currency.
- In the **Costs** section, you can add a cost multiplier that is applied to all your headcount costs.
:::hint{type="info"}
[Modules:](https://www.charthop.com/pricing/) **HRIS |** **Engagement | Goals | Performance | ****Compensation Reviews |** **Headcount Planning**
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