Currencies and Currency Rates can be maintained in the 'Currencies' menu.
Currency Rates can be defined below a Currency a can have multiple Valid From Dates.
Thorough the system there are 3 currencies calculated:
- Currency of customer or supplier
- Legal Entity Currency - this can be different if there are legal entities with a different currency, eg.g if you have a company in the UK (GBP) and in the Netherlands (EUR)
- Global Currency - used to define the amounts in the overall group currency, e.g. the Head office is in Europe , so the global currency is EUR.
Explanation of most important fields
| Field | Explanation |
|---|---|
| Currency | The code of the Currency |
| Sign | Sign of the currency |
| Description | Description of currency |
| EU checkbox | Defines if currency is part of the Eurozone |
Currency Rate | |
| Currency | Base currency |
| Currency To | Currency where the rate is valid for |
| Currency Rate | Currency rate |
| Date Valid From | The starting date of the currency rate |
Examples
| Currency | Currency to | Currency rate | Date Valid From |
|---|---|---|---|
| EUR | USD | 1.080 |
|
| EUR | USD | 1.063 |
|
| |||
| Date | Used Rate | ||
| 1.080 | ||
| 1.063 | ||
| No valid rate found | ||
