Currency Maintenance

Menu Path: General Ledger Images\bluerarw.gif Module Setup Images\bluerarw.gif Currency Maintenance

Purpose

Set up and maintain currencies.

Overview

Use Currency Maintenance to create, edit, and delete currencies in which your company does business.

Some of the areas where multiple currencies are used include:

Area

Description

Accounts Payable module

Suppliers can be defined with a default currency other than the general ledger currency. Accounts payable vouchers can then be entered in the supplier's default currency. Accounts payable payments can be generated in currencies other than the general ledger currency.

Accounts Receivable/Customer Service module

Customers can be defined with a default currency other than the general ledger currency. A customer's orders can be placed in the customer's default currency. Prices for ordered products are converted based on the currency exchange rate defined for the currency. Customer payments can be receipted in the customer's default currency.

Purchasing module

Purchase orders can be created in currencies other than the general ledger currency. Product costs for ordered products are converted based on the currency exchange rate defined for the currency.

Reports

You can generate many reports in currencies other than the default general ledger currency.

Note All general ledger postings are generated in the default general ledger currency.

For information on creating exchange rates between currencies, see Currency Exchange Rate Maintenance.

Creating Currencies

To create a currency:

  1. If your company uses consolidation ledgers, verify the ledger ID for which you want to create a currency is entered in the Ledger ID field.

  2. Click the New button in the ribbon.

  3. Enter a code for the currency in the Currency Code field.

  4. Enter a name for the currency in the Currency Name field.

  5. Enter the symbol for the currency in the Symbol field.

  6. Enter the international standard currency code for the currency in the ISO Currency field.

  7. If the currency can be used for credit card orders, select the Allowed for credit card orders check box.

  8. Click the OK button in the ribbon. The currency is created.

Note If you create a new currency, it cannot be used for transactions until an exchange rate is created for it.

Ribbon Home Tab Buttons

Button

Description

Exit

Click this button to close the Currency Maintenance window.

New

Click this button to create a new currency. This button is only available if the Main tab is displayed.

Update

Click this button to update the selected currency. This button is only available if the Main tab is displayed.

Delete

Click this button to delete the selected currency. You cannot delete a currency if it was used for transactions. This button is only available if the Main tab is displayed.

OK

Click this button to accept an action. This button is only available after you click the New, Update, or Delete button in the ribbon.

Cancel

Click this button to cancel an action. This button is only available after you click the New, Update, or Delete button in the ribbon.

Show Data

Click this button to display currency information. This button is only available if the Inquiry tab is displayed.

Exchange Rate

Click this button to display Currency Exchange Rate Maintenance, which allows you to set up and maintain exchange rates for the currency selected on the Main tab.

Fields and Buttons

Field or Button

Description

Currency Code

Enter a currency code, or click the Lookup button to select an existing currency code.

Currency Name

Enter a currency name, or click the Lookup button to select an existing currency name.

Ledger ID

Enter a ledger ID for the currency, or click the Lookup button to select a ledger ID.

Note This field is only available if at least one consolidation ledger is set up.

Main Tab Fields and Buttons

Field or Button

Description

Symbol

Enter the symbol for the currency.

Example $ for United States dollars

ISO Currency

Enter the international standard currency code for the currency.

Active

Select this check box to mark the currency as active, and display it in Lookup windows for currencies. This check box is only enabled after an exchange rate is created for the currency.

NOTE This check box is automatically selected when an exchange rate is created for a new currency.

Allowed for credit card orders

Select this check box to allow orders in this currency to be paid by credit cards.

Inquiry Tab Fields and Buttons

Note This tab is disabled if you are creating, editing, or deleting a currency.

Field or Button

Description

Currencies

This grid displays currency information after you click the Show Data button in the ribbon. Double-click a currency to select it and display information for it on the Main tab.