Interprise Suite 2008 Help Send comments about this topic.
Multicurrency
Getting Started > Setting Up a New Company > System Setup > Multicurrency

Glossary Item Box

Introduction About:

Interprise Suite supports multiple currencies and includes more than 150 currencies in default. Users can modify, add new and update currency exchange rates at any time using the Multicurrency setup form. 

 

Terminology Steps:

Amend Currency Information

  1. Go to the System Manager module.
  2. Select Multicurrency under the Maintain menu. The Multicurrency setup form will display. 
    Note:
    You will notice that the formatting for all currencies are the same as default. You may modify the Multicurrency setup formatting as needed.
  3. In this example, the Canadian Dollar, CAD currency is amended. The default Currency Symbol for CAD is $, you can change the currency symbol e.g. CAD$
  4. You may update the default exchange rate for CAD in the Exchange Rate field e.g. 2.0.358 = 1 USD. The digits will be rounded up depending on the number of digits you selected after the decimal point.
    Note:
    This value should be updated as often as necessary to update all foreign currency transactions with the current exchange value. See Also: How To > Update the currency exchange rate.
  5. You may modify the default Multicurrency setup formatting according to your requirements. In the Formatting section, you may set up the Multicurrency setup formatting such as the positive and negative formatting and digit grouping. An example of how the values you put in the Currency field would look like is shown below.
Format: Value: So that:
No of Digits after Decimal 2 (will round up the last digit) 1.0450 will appear as 1.05
Cost/Price Decimal Digits 2 (will round up the last digit) $1.0450 will appear as 1.05
Decimal Separator . 100.00
No of Digits in a Group 3 $100,000.00
Group Separator , $100,154.00
Currency Positive Pattern $n $100
Negative Number Format ($n)  ($100)

 

How To How To:

ShowUpdate the currency exchange rate

Update the currency exchange rate Note that the currency exchange rate should be updated as often as necessary to update multicurrency transactions. To update the currency exchange rate,

  1. In the Multicurrency setup form, go to the Details tab.
  2. Change the value in the Exchange Rate field to the current exchange rate (based on your home currency).
  3. Save the details before closing the Multicurrency setup form. Updates to the currency exchange rate is displayed in the Currency History tab.

 

ShowUpdate transactions with the new rate

See Also: Working with Accounting module > Revaluations > Revaluate Multicurrency Transactions

 

ShowInactivate a Currency

Note that the home currency cannot be inactivated.

  1. In the Multicurrency setup form, select the currency to inactivate.
  2. In the Details tab, uncheck the Active checkbox.
  3. Save the details before closing the Multicurrency setup form.

 

ShowDelete a Currency

Note that the home currency and currencies that had been used in transactions and other setup cannot be deleted.

  1. In the Multicurrency setup form, select the currency to delete.
  2. Click on the Delete option in the toolbar menu.
  3. Choose Yes in the prompt to delete.

 

 

Converted from CHM to HTML with chm2web Pro 2.76 (unicode)