Why Use This Procedure?
In the Currencies window you register different foreign (external) currency codes. When registering purchase orders or customer orders for import/export, you may need to use foreign currencies. When you update a customer or supplier, you should also enter the default currency code that should apply to orders from or to that particular supplier or customer.
During order registration, you must enter the value in the foreign currency that you have selected. When printing forms, both the currency value and unit are printed. In the Order List procedure, the value will appear in the currency you have chosen as your company currency, such as SEK (Swedish Crowns), so that all your totals can be calculated and presented in the same currency. Before you can select a company currency, the currency in question must have been registered in this procedure.
Exchange Rates in Orders and Ledgers
When you register orders, the exchange rate is calculated from the foreign currency to your company currency. During customer order invoicing, an accounts receivable entry is created in the accounts receivable ledger for the currency, according to the exchange rate that applied on the invoicing date. And when you register incoming payments, an exchange rate difference is entered, if applicable, in such cases when the exchange rate from the bank gives you another amount than the one registered for the accounts receivable entry in the system.
When registering supplier invoices, you calculate the accounts payable entry in the accounts payable ledger in the same way as when you invoice or bill a customer. And when you register outgoing payments, an exchange rate difference is entered, if applicable, in such cases when the exchange rate from the bank gives you another amount than the one registered for the accounts payable entry in the system.
In addition to the above-mentioned descriptions of the order and ledger registration processes, the system also provides you with the opportunity to view your lists in different currencies: either in the previously applied exchange rate, or using the current exchange rate. This also applies to lists used for incoming and outgoing payment forecasts.
Exchange Rates in Statistics
All the sales statistics in MONITOR are updated using the company currency according to the effective exchange rate at the time of invoicing. The order inflow statistics are updated according to the effective exchange rate at the time of order registration. Purchasing statistics are calculated according to the exchange rate that was effective at the time of arrival. The company currency appears as a default in this table.
Window Functions
Read more about the Window functions under Window Functions in the MONITOR Basics.