Page History
The following steps will guide you through Multi-Currency setup.
- Setup Currency Exchange Rate Type
- Common Info > Currency Exchange Rate Types
- Add Currency Exchange Rate Type, ex. Average and Spot
- Click Save
- Click Close
- Setup Currency Exchange Rates
- Common Info > Currency Exchange Rates
- Add and configure currency exchange rates, see example below
- INR/USD
- EUR/USD
- INR/USD
- Click Save
- Click Close
- Setup of Functional Currency and Default Rate Types from Company Configuration
- System Manager > Company Configuration > System Manager > System Manager tab
- In Details tab > Default Values section,
- Set Functional Currency field, ex. USD. This is the home currency.
- Set Currency field, ex. 6. This will define the number of decimals to be shown on Forex Rate field.
- In Multi-Currency tab > Default Rate Types section,
- Set Default Rate Types for the following fields. This is used as defaults for Forex Rate Type field when creating foreign currency transaction.
- Accounts Payable, ex. Spot
- Cash Management, ex. Spot
- Inventory, ex. Spot
- Contract, ex. Spot
- Accounts Receivable, ex. Spot
- General Journal, ex. Spot
- Set Default Rate Types for the following fields. This is used as defaults for Forex Rate Type field when creating foreign currency transaction.
Overview
Content Tools