Overview tab

Create or view the currencies that your company uses and enter basic identifying information for each currency.

General tab

Enter the gender of the currency that is selected on the Overviewtab.

Currency converter

Set up how the online numeric conversion tool is used for the currency that is selected on the Overviewtab.

The tool automatically converts transaction lines using the exchange rates in the lower pane.

Posting

Select posting accounts for realized and unrealized profits and losses that are related to the currency that is selected on the Overviewtab.

Round-off

Enter rounding units and select the kind of rounding that applies to sales orders, purchase orders, and prices for the currency that is selected on the Overviewtab.

Consolidate

Set up exchange rates for consolidation.

This tab is only visible if you select the Consolidated company accountscheck box in the General ledger parametersform.

Exchange rate

Set up and maintain exchange rates for the currency that is selected in the upper pane.

External codes

Create or update external codes to send and receive currency codes electronically through the AIF. For more information, see Using AIF to integrate with external systems.

Print exchange rates

Print a list of the currencies and the current exchange rates.

Send electronically

Send exchange rates electronically in an XML document, if you have set up the end point in the Send document electronicallyform. For more information, see How to: Send and receive electronic documents automatically.

Currency

The unique identifier – a code of up to three characters – for the selected currency.

Examples:

• USD – U.S. dollar

• EUR – Euro

• CAD – Canadian dollar

Name

A description of the selected currency.

The description, together with the currency code, is printed on checks and other documents.

Examples:

• U.S. dollar

• Euro

• Canadian dollar

ISO currency code

The standard code of the currency as defined by the International Organization for Standardization (ISO).

Symbol

The symbol of the selected currency. Symbols are frequently used on reports.

Examples:

• € – Euro

• $ – U.S. dollar

Gender

Select Feminineif the selected currency has a feminine gender and the gender is used on checks and reports.

Note
(ESP) This field is available only if the configuration key for Spain is selected.

The default value for this field is Masculine, which, in effect, means no gender.

Conversion

Select this check box to include the selected currency in the calculations of the online numeric conversion tool. The tool automatically converts amounts that are entered on transaction lines in the company currency to amounts in the selected currency.

Note
The amounts in the selected currency are not saved in the database but can be useful references.

Prefix

Enter the text that is printed in front of the amount in the selected currency if the Conversioncheck box is selected.

Suffix

Enter the text that is printed after the amount in the selected currency if the Conversioncheck box is selected.

Realized loss

The ledger account to which realized losses in the selected currency are posted.

Realized profit

The ledger account to which realized gains in the selected currency are posted.

Unrealized loss

The ledger account to which unrealized exchange adjustment losses for open transactions, in the selected currency, are posted.

For an example, see Unrealized exchange adjustment losses: an example.

Unrealized profit

The ledger account to which unrealized exchange adjustment gains for open transactions, in the selected currency, are posted.

General round-off

Enter the unit for rounding off amounts, such as 0.10or 1.00.

Round off order

Enter the unit for rounding off amounts on sales orders, such as 0.10or 1.00.

Rounding form

Select the rounding convention that applies to the number to the right of the round-off unit that is entered in the Round off ordertext box:

• Normal– Round up numbers 5 and higher and round down numbers 4 and lower.

• Downward– Round down all numbers.

• Rounding-up– Round up all numbers.

Round off purchase

Enter the unit for rounding off amounts on purchase orders, such as 0.10or 1.00.

Rounding form

Select the rounding convention that applies to the number to the right of the round-off unit that is entered in the Round off purchasetext box:

• Normal– Round up numbers 5 and higher and round down numbers 4 and lower.

• Downward– Round down all numbers.

• Rounding-up– Round up all numbers.

Rounding price

Enter the unit for rounding off prices, such as 0.10or 1.00.

Rounding form

Select the rounding convention that applies to the number to the right of the round-off unit that is entered in the Rounding pricetext box:

• Normal– Round up numbers 5 and higher and round down numbers 4 and lower.

• Downward– Round down all numbers.

• Rounding-up– Round up all numbers.

Start date

The first date on which the exchange rate is valid.

Exchange rate

The exchange rate that is valid from the date in the Start datefield for the currency that is selected in the upper pane.

In forms and reports, exchange rates for currencies are shown as they are defined in this field.

Note
In the Express exchange ratefield in the General ledger parametersform, you can change the number of units that the exchange rate is based on. The change is automatically reflected in the Exchange ratefield in this form. A typical setup for currency exchange rates expresses how much company currency is exchanged for 100 of the foreign currency that is selected in the upper pane.

Triangulation

Specify whether the exchange rate is included in triangulation.

Government exchange rate

Select this check box to use the government exchange rate when you run the VAT exchange adjustment batch.

Note
This field is available only if the Unrealized sales taxconfiguration key is selected.

Text describing the transaction.

View an explanation of the exchange rate: the exchange rate per number of units of the foreign currency.

Closing rate

Enter the exchange rate that will be used for the selected currency when currency conversion occurs for the balances or transaction amounts of subsidiary ledger accounts. This occurs when the account amounts are added to consolidated company ledger accounts that have a value of Closingin the Consolidation conversionfield on the Generaltab of the Chart of accounts form.

Note
This field is only available for consolidated companies. To define a company as a consolidated company, select the Consolidated company accountscheck box in the General ledger parametersform. Accounts with a type of Balance, Fixed asset, and Liabilityare typically converted using a closing rate.

Average rate

Enter the exchange rate that will be used for the selected currency when currency conversion occurs for the balances or transaction amounts of subsidiary ledger accounts. This occurs when the account amounts are added to consolidated company ledger accounts that have a value of Averagein the Consolidation conversionfield on the Generaltab of the Chart of accounts form.

Note

This field is only available for consolidated companies. To define a company as a consolidated company, select the Consolidated company accountscheck box in the General ledger parametersform. Accounts with a type of Profit and loss, Revenue, and Costare typically converted using an average rate or the historical rate for each transaction date. An average rate must be chosen with care, especially if there are large variations in the exchange rate during the period.