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Object documentationCurrencies - Setup Window Locate this document in the navigation structure

 

Use this window to define currency settings.

To open this window, choose   Administration   Setup   Financials   Currencies  .

Currencies – Setup
Code

Enter a code of up to three characters for the currency, for example, USD, EUR.

Recommendation Recommendation

If you use the Payment Engine add-on, we strongly recommend that you use internationally agreed-on code abbreviations, as a way of ensuring that banks accept the bank file created by Payment Engine.

End of the recommendation.
Currency

Specify the currency name. This name appears in the dropdown boxes of various windows pertaining to currency.

International Code

Enter an international code to represent the currency in printed checks, for example, $, .

International Description, Hundredth Name

Enter the international name of the currency and the name of its decimal unit. The information is required for printing checks in this currency, so that the numerical amount can be represented in words.

English, English Hundredth Name

Specify the English name of the currency and the English name of the currency’s decimal unit. This information is required for printing checks in this currency, so the numerical amount can be represented in words.

Incoming Amt Diff. Allowed

For a specific currency, specify the maximum amount allowed for incoming payment differences.

Enter 0 or an amount greater than 0.

Note Note

The field is enabled only if the amount in the Incoming % Diff. Allowed field is zero, or if the field is blank.

End of the note.
Outgoing Amt Diff. Allowed

For a specific currency, specify the maximum amount allowed for outgoing payment differences.

Enter 0 or an amount greater than 0.

Note Note

The field is enabled only if the amount in the Outgoing % Diff. Allowed field is zero, or if the field is blank.

End of the note.
Incoming % Diff. Allowed

For a specific currency, specify the maximum percentage allowed for incoming payment differences.

Enter 0 or an amount greater than 0.

Note Note

The field is enabled only if the amount in the Incoming Amt Diff. Allowed field is zero, or if the field is blank.

End of the note.

Note Note

The base amount for the percentage calculation is the total amount paid, which is the sum of the amounts entered in the Payment Means window.

End of the note.
Outgoing % Diff. Allowed

For a specific currency, specify the maximum percentage allowed for outgoing payment differences.

Enter 0 or an amount greater than 0.

Note Note

The field is enabled only if the amount in the Outgoing Amt Diff. Allowed field is zero, or if the field is blank.

End of the note.

Note Note

The base amount for the percentage calculation is the total amount paid, which is the sum of the amounts entered in the Payment Means window.

End of the note.
Rounding

This column appears only if the selected rounding method is By Currency. Select one of the following options:

  • No Rounding – Prevents rounding for amounts in this currency.

  • Round to Five Hundredths – Example: 4.22 becomes 4.20 and 4.24 becomes 4.25.

  • Round to Ten Hundredths – Example: 4.19 becomes 4.20 and 4.14 becomes 4.10

  • Round to One – Rounds to the nearest integer, for example, 4.23 becomes 4.

  • Round to Ten – Example: 5.8 becomes 10.

Decimals

Select the required decimal rounding for each currency.

The selected option affects the Price, Line Total, and Document Total fields.

If you select Default, the decimal display is determined by the parameters entered in   Administration   General Settings   Display   tab.

Note Note

After journal entries are posted, you can only increase the number of decimal places. Each change is irreversible.

End of the note.
Rounding in Pmnt

Select to round values in payment documents.

Country-Specific Fields: Brazil
International Description (pl.), Hundredth Name (pl.)

Specify the plural form of the currency’s international name and the plural form of the currency’s hundredths unit name. This information is required for printing checks in this currency, so the numerical amount can be represented in words.

English (pl.), English Hundredth Name (pl.)

Specify the plural form of the currency’s English name and the plural form of the currency’s decimal unit name in English. This information is required for printing checks in this currency, so the numerical amount can be represented in words.

Country-Specific Fields: Switzerland
ISR Calculation

Select to determine that the currency is subject to ISR calculation.

More Information

Define Currencies: Russia