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Currencies List View

Overview

Module

Description

Customers

  • Allocated a single currency.

  • Can only be linked to price lists in the same currency.

  • Can only be added to transactions that support their currency.

Estimating

Estimates can only be done in the local currency. However, once you determine a local price you can copy the transaction to convert that price to the customer’s currency.

Items

  • Prices can be set in all the currencies.

  • Can only be added to transactions if they have prices that match the transaction’s currency and that of the selected customer or supplier.

Organisation

Limited to one local (main) currency but can add multiple currencies for prices and transactions.

Suppliers

  • Allocated a single currency.

  • Can only be added to transactions that support their currency.

Rate of Exchange

  • Certain reports can be viewed in the transaction or local currency. Others convert foreign currencies to the local currency.

  • A general setting determines how the currency is converted:

  • Local Currency (LOC) to Foreign Currency (CUR)

  • Foreign Currency (CUR) to Local Currency (LOC)

  • The Rate of Exchange is updated daily (directly after midnight) on the server and applied to the database as soon as someone logs in.

Transactions

A setting lets you choose which currencies may be used.

This view displays all the created currencies that can be used in transactions.

Before you add a currency, please contact QuickEasy to verify that the currency is activated on our side, else the exchange rates are not updated.

Currencies Interface

Navigation: Main Menu > Setup > Accounting > Currencies (tab)

Buttons Explained

ButtonDescription
Add/EditAllows users to edit the currencies or add a new currency.
SaveSaves any changes.
ActionsOptions to:
Change Local Currency: Select a different currency as the local currency.
Update Currency: Updates the Exchange Rates (applicable if a new currency was created).
OutputAllows the display to be exported in .xlsx, .csv, or .htm format.
MenuLayout

Fields Explained

FieldDescription
Top RowWhen Add/Edit (button) is clicked, the top row of the table becomes editable for users to add a new currency.
IDA system-generated number for the currency.
CodeThe internationally recognised code for the currency (e.g. EUR).
DescriptionThe currency’s description (e.g. Euro).
MajorThe name of the notes or major currency (e.g. Euros).
This name is used to type out the amounts in words on forms such as invoices.
MinorThe name of the coins or minor currency (e.g. Cents). This name is used to type out the amounts in words.
This name is used to type out the amounts in words on forms such as invoices.
LocalA checkbox. The Local Currency should be checked. All other Currencies should be unchecked.
Local Currency > CURThe amount of Foreign Currency that one unit of the Local Currency can buy. 
CUR > Local CurrencyThe amount of Local Currency that one unit of the Foreign Currency can buy.
CreatedThe date on which the currency was created.
@ (Time Created)The time on which the currency was created.
UpdatedThe date on which the currency was last updated.
Updated ByThe User who last updated the currency. 
The field is blank if the currency was automatically updated.
@ (Time Updated)The time that the currency was last updated.
WidgetA submenu that can also be accessed by right clicking an entry.
Allows the currency to be deleted if it has not yet been used.

Learn More

  1. Chart of Accounts Interface: Explains the interface for creating a chart of accounts.
  2. Chart of Accounts Tutorials: These tutorials explain how to create and edit a chart of accounts.
  3. Currency Settings: Explains how to set the conversion method and how many decimal places to use for currencies.
  4. Currency Tutorials: These tutorials explain how to setup currencies.
  5. Ledger List Views: Explains the various interfaces for displaying ledger transactions.
  6. Ledger Tutorials and Troubleshooting: These tutorials explain how to display a ledger and transactions.
  7. Understanding the Chart of Accounts: Explains what the chart of accounts is and how it impacts the financial statements.

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