Follow the steps below to create currency and set up exchange rate.
To Create Currency
- Search "Currencies" & go to the page
- Select New on Action Bar
- Fill up the basic information as below.
- Code • Description
- Realized Gain Acc. • Realized Losses Acc.
To setup Exchange Rate for each Foreign Currency
- Go to Currencies List then select the currency you want to set the exchange rate and then Exch. Rates in Action Bar.
- System prompted the Currency Exchange Rate page
- Click New action button for add new exchange rate for the currency.
or click on the action button in the Currency Card.
4. Enter the following information.
| Field | Description |
|---|---|
| Starting Sate | Enter the starting date of the exchange rate it will be use in the system. |
| Relational Currency Code | Enter the Currency Code for Local Currency (i.e. AUD) *NOTE: this is specific setup for CN Asia and CN AU for facilitate the customization feature. Refer to BC feature, if relational currency is local currency, this field should be "blank" |
| Exchange Rate Amount | Enter the amount of the Currency Code. |
| Relational Exch. Rate Amount | Enter the amount of the Relational Currency Code. |
Exch, Rate Setup
Exchange Rate Amount = the amount for the "Currency Code"
Relational Exch. Rate Amount = the amount for the "Relational Currency Code"
If "Exchange Rate Amount" is 1 and "Relational Currency Rate Amount is 1.475, that means US$1=AU$1.475.
If "Exchange Rate Amount" is 0.64 and "Relational Currency Rate Amount is 1, that means US$0.64 = AUD1.
Currency Setup for Local Currency-CN
Customized feature for not allow "blank" for currency code is implemented. To facilitate this feature, Currency Exchange Rate setup for local currency as below:
1) No need to fill currency code in Relational Currency Code for the Local Currency (i.e. AUD)
2) Both Exchange Rate Amount and Relational Exch. Rate Amount are 1
3) Select "Both" for Fix Exchange Rate Amount
