# Set the currency and period

> [HTML Version](transactions-settings.html)

**Currency and Period Settings** is a settings page where users of the [Administrators](360006871932.md) group can:

- Select the currency to be used when creating [incoming payments](income-register.md#create-planned-income) and [outgoing invoices](outgoing-invoices.md) for a contractor.

- Specify a period for planning and setting [sales goals](sales-goals.md) in the company.

By default, the currency is set to **Dollar**, and the period is set to **Month**. To change these settings:

1. Open the settings page in one of the following ways:

- Go to [Administration > Currency and Period Settings](crm-settings.md).

- To the right of the **Incoming Payments** workspace click the gear icon and select **Currency and Period Settings**.

(transactions-settings-1.png)

2. On the page that opens, specify the settings:

(transactions-settings-2.png)

- **Currency Settings**. Select a currency from the list that will be set as default on the creation forms of incoming payments and invoices. You can select app items from the [Currencies](cash-flow-items.md#currencies) directory.

Note that changing the base currency resets the exchange rates set for other currencies. To update them, go to the **Currencies** and edit all its app items.  

- **Period Settings**.** **Select the period from the drop-down list that will be used to create sales goals. The available options are **Year**, **Quarter** and **Month**. 

3. Click **Save**.

The selected currency will then be displayed in the **Currency type** field on app item creation forms. Users can manually change the field value on the form by selecting a currency from the drop-down list. All currencies stored in the **Currencies **are available for selection.

The period selected in the settings will be displayed on the [sales goal creation form](sales-goals.md). This value cannot be changed manually.