Currencies List View
- Organisations are limited to one local currency per database, but have access to multiple currencies for transactions.
- For accounting and costing purposes, the foreign currencies are converted to the local currency.
- Currencies can be allocated to Customers and Suppliers.
- Transactions can be limited to only use specific currencies.
- The Rate of Exchange is updated daily (directly after midnight) on the server for both settings:
- Local Currency (LOC) to Foreign Currency (CUR)
- Foreign Currency (CUR) to Local Currency (LOC)
- The updates are applied to databases as soon as someone logs in.
Navigation: Main Menu > Setup > Accounting > Currencies (tab)
Buttons Explained
| Button | Description |
|---|---|
| Edit | Allows users to edit the currencies or add a new currency. |
| Save | Saves any changes. |
| Actions | Options 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). |
| Output | Export (.xlsx): Exports the fields in Excel format. |
| Menu | Layout |
Fields Explained
| Field | Description |
|---|---|
| ID | A system-generated number for the currency. |
| Code | The internationally recognised code for the currency (e.g. EUR). |
| Description | The currency’s Description (e.g. Euro). |
| Major | The name of the notes or major currency (e.g. Euros). This name is used to type out the amounts in words. |
| Minor | The name of the coins or minor currency (e.g. Cents). This name is used to type out the amounts in words. |
| Local | A checkbox. The Local Currency should be checked. All other Currencies should be unchecked. |
| Local Currency > CUR | The amount of Foreign Currency that one unit of the Local Currency can buy. |
| CUR > Local Currency | The amount of Local Currency that one unit of the Foreign Currency can buy. |
| Created | The date on which the currency was created. |
| @ (Time Created) | The time on which the currency was created. |
| Updated | The date on which the currency was last updated. |
| Updated By | The 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. |
| Widget | Allows the currency to be deleted if it has not yet been used. (Click the last column to display an X, click the X to delete.) |
| Top Row | When Edit (button) is clicked, the top row of the table becomes editable for users to add a new currency. |
