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System Profiles |
Article Number: 878 | Rating: Unrated | Last Updated: Tue, Jun 13, 2023 at 12:51 PM
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Datafile Software System Profiles The System Profiles set the general configuration options for the currency system. Base Currency for this CompanyEnter here the three-character code of the currency defined as the base currency for this company. Note that the ledgers for one company must all use the same base currency. Currency Code for the EuroIf the Euro is one of the currencies you trade in enter the currency code here. Sales Ledger - Allow Foreign CurrencyYou activate foreign currency procedures for the sales ledger by setting this option. If you leave this blank, then foreign currency procedures are not invoked at all for the sales ledger. Although you may have foreign currency data items defined in the files, these fields are updated with the base currency. Sales Ledger - Use Daily Spot RateThis is usually left blank. If spot rate history facilities are to be used in the sales ledger (see descriptions in above sections) then set this. It is likely that you would only use the spot rate history feature if you were a commodity dealer, currency trader, or otherwise occupied in a business where exchange rate fluctuations are a prime aspect of your business. Sales Ledger - Usually Fixed RateThis defines the default for the question asked when entering foreign currency transactions into the sales ledger. It is usually left blank. Where the usual default is to be Y (for example, if you choose spot rate history) then set this option. Purchase Ledger - Allow Foreign CurrencyPurchase Ledger - Use Daily Spot RatePurchase Ledger - Usually Fixed RateNominal Ledger - Allow Foreign CurrencyNominal Ledger - Use Daily Spot RateNominal Ledger - Usually Fixed RateThe same three questions are posed for each of the ledgers. Allow Values Up To 9,999,999,999.99Selected currencies, like the old Italian Lira, have a large exchange rate where a comparatively small value in your base currency results in a large value in the currency of your customer/supplier. The data items for values are typically ‘L’ type which allows 10 significant figures but the account enquiry screen and allocations etc. reduce this to 8 significant figures for display purposes (so more detail can be displayed). Setting this option displays the value in full. Stock Control - Multiply Prices * RateReply Y to this question if the order processing systems are to take the base currency price and apply the appropriate currency rate to derive the foreign currency price. |
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