Currencies

Purpose

Defines currencies for purchase and dispositioning costs.

Costing reports convert all item costs to, and display their results in, the default currency.

The active currency exchange rates can be updated using the Tools | Update Currencies... window.

Where used

Countries, parts

Data fields

Name
This is the name of the currency.
Currency code
The system uses the ISO standard 3-character currency code. With the significant exception of the Euro (EUR), this code typically consists of a 2-character country code prefix, followed by a one-character currency letter: for example, Japan:Yen=JPY, Switzerland:Franc=CHF, Canada:Dollar=CAD.
Exchange rate
This numeric value defines how many units of a currency another currency buys. The currency exchange rate is referenced to the default currency (Default collection member is marked).
This value represents the number of current units required to purchase a single default currency unit. That is, there are [this currency's exchange rate] units per [default currency] unit. The default member's exchange rate is, by definition, equal to 1.
Example: It costs 100 Japanese Yen (JPY) to purchase one United States Dollar (USD). If the default currency member is USD (exchange rate = 1), then the exchange rate for JPY would equal 100. Conversely, if the JPY member is the default currency (exchange rate = 1), then the exchange rate for USD would equal 0.01.
Exchange date
This specifies the date that the last exchange rate was verified.
Active: users can select
Default member of collection
Permanent member of collection
For a description of these checkboxes, see the Collections reference > Managing collections help topic.

Setup suggestions

Although the collection members will change infrequently, if you do much business using other currencies you may wish to schedule regular updates to the exchange rate information.

2015

Learn More
Help Guide Contents [PDF]