Overview

Checking the Use Currency box in Company Setup provides the ability to enter currency information for accounts receivable, sales orders and general ledger transactions entered throughout the system.

Realized gains and losses are automatically calculated at customer payment entry.

The following lists must be setup prior to currency data entry:

1. Currency is used to define an unlimited number of currencies.

2. Currency Rate Type is used to setup unique identifiers to distinguish between rates used for different processes, but associated with the same currency ID and effective date.

3. Currency Rate is used to assign the exchange rate between two currencies for a given rate type and effective date.

4. Company Setup - Currency tab is used to define the processing and default options to be used for currency processing.

5. The Customers - Currency and Account - Currency tabs are used to define default currency IDs and rate types for individual customers or accounts.

See also Transaction - Currency Entry for a detailed explanation of entering currency transactions.