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You can amend or add a currency here. You can enter up to 99 currencies. You can choose whether the currency uses a single exchange rate, period exchange rates, or both.
If you choose to make a currency amendable, you can change the exchange rate when entering transactions.
You specify your base currency here. You cannot change this once you have entered transactions.
Open: Accounting System Manager > Settings > System Settings | Operational settings.
Open: Accounting System Manager > Settings > Currencies and Exchange Rates | Settings.
To add a currency, click Add Currency. A new line appears. Enter the currency details.
Amend the currency details on the relevant line.
Enter or amend the following details:
|Symbol||The symbol for the currency to be used in Sage 200 when entering values in that currency.|
|Name||The name of the currency to be used in all currency drop-down lists.|
|ISO||The International Organisation for Standardisation code must be assigned from the list generated by Sage 200.|
Select True from the drop-down list to set the base currency. This option must only be set on your base currency. This is the currency that is normally used by your company to carry out business transactions.
Note: Once you have posted transactions and accounts using the base currency, you cannot change the base currency. The Change Base Currency button no longer appears on the Settings tab.
The rows in this column have a drop-down list. These lists have options that allow you to control when and where a currency can be changed in Sage 200. You can select from the following options:
Not Amendable: On entering a transaction the exchange rate cannot be changed manually. The value always comes from the exchange rates table.
Amendable- Cash Postings Only: The rate can only be changed when entering payment or receipt postings through the relevant ledger in the Cash Book module.
Amendable -All: The rate can be changed when entering any transaction type.
Single: One amendable rate is associated with the currency.
Period: A list of rates can be assigned to the currency, each with an expiry date.
When a transaction is entered, the system uses the transaction date and the exchange rate expiry date to calculate which period exchange rate to use. If a transaction date falls after the last exchange rate set up, the transaction uses the latest period exchange rate available.
Single & Period: When a Sales Ledger or Purchase Ledger account is linked to a currency using this option you can select the Single exchange rate or Period exchange rate currency option on the customer or supplier account Company tab. This is useful when you have agreed to set an exchange rate with an individual customer.
Note: If you are consolidating between two companies that have different base currencies, and the parent company currency Rate Type is Single & Period, then the Single exchange rate is used during consolidation. The Period exchange rate is not used.
|Used for New A/C's||If you clear this check box on any currency line, the associated currency will not be available for selection when setting up new accounts.|
|Nom A/C No||A nominal code can be specified, per currency to record exchange gain/loss on any postings. If there are currency fluctuations between the time the invoice is sent out and paid, the amount is posted to this nominal account.|
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