Add Currency/Change Currency
Data Source: PFWTAB
Use the Add Currency/Change Currency screen allows you to add a new currency code to the system or edit an existing currency code.
To open the Add Currency/Change Currency screen, click a Code or the Need to add a new currency? Click here to add link on the Currency screen.
An optional bank account, payables account, and discount account can be set up on the currency code. The system will default vendors set up with the corresponding currency code to these accounts, if accounts have not previously been assigned to the vendor. Currency codes can also be set up with separate Foreign Exchange G/L accounts used to post transaction within the Accounts Payable and Parts Sales systems.
The fields on the Add Currency/Change Currency screen are:
| Field | Description |
|---|---|
| Code |
A one character alphanumeric code used to represent the currency within the system. Blank currency codes are reserved for Canadian funds and Currency Code "A" is reserved for American funds. |
| Description |
A brief description of the currency code. The Description field is used for reference an is not printed. |
| A/P Checks & A/R Statement Verbiage | The currency verbiage will appear on checks. This verbiage will print below the numeric value (e.g. U.S. FUNDS). |
| A/P Exchange Rate | The exchange rate used to calculate the currency exchange amount posted to the payables on the G/L. |
| Sales Exchange Rate | The exchange rate used to calculate the currency exchange amount posted to the sales account. |
| Bank Account |
This account is the default G/L bank account number used when the currency code is attached to a vendor for whom A/P is being processed. It can be changed at the time that an A/P voucher is entered if necessary. Otherwise, it is used as the bank account for the transaction. This account must be defined in the SPECACCT table allowing it to be used as a bank account for the A/P system. |
| Payables Account |
This account is the default which will be used when the currency code is attached to a vendor for whom A/P is being processed. It can be changed at the time that an A/P voucher is entered if necessary. Otherwise, it is used as the A/P control account for the transaction. This account must be defined in the SPECACCT table allowing the system to maintain the A/P sub ledger entries. |
| Discount Account |
This account is the default which will be used when the currency code is attached to a vendor for whom A/P is being processed. It can be changed at the time that an A/P voucher is entered if necessary. Otherwise, it is used as the discount account for the transaction. This account must be defined in the SPECACCT table allowing it to be used as a discount account for the A/P system. |
| Foreign Exchange Bank Account |
The currency exchange amount will be posted to the G/L foreign exchange bank account number entered. |
| Foreign Exchange Payables Account |
The currency exchange amount will be posted to the G/L foreign exchange A/P account number entered. This account is debited when an A/P voucher is updated and credited when a check is issued. |
| Foreign Exchange Sales Account |
Cash receipts posted to batches IntelliDealer that use the corresponding currency code are posted to the G/L foreign exchange sales account entered. This allows an account to be loaded only if the currency code is not blank. Any adjustment made to the currency rate for a currency code used on the Cost Code Updates screen also updates the associated Cost Code Order Creation screen. |
| Active for System |
Controls whether the currency code is active for use within the system.
|
The buttons complete your work on the Add Currency/Change Currency screen:
| Button | Function |
|---|---|
| Save | Save changes made on the Add Currency/Change Currency screen. |
| Copy | This button appears only by accessing the Change Currency screen by clicking on a Code. |
| Save & New |
Saves a newly added currency code and refreshes the Add Currency screen, allowing you to add another currency code without closing the screen. This button appears only by accessing the Add Currency screen by clicking the Need to create a new currency? Click here to add link. |
| Save & Next |
Allows you to save any edits/changes made to the selected currency code and scroll through to the next currency code in the list to apply any edits/changes. This button appears only by accessing the Change Currency screen by clicking on a Code. |
| Close | Closes the screen you are currency on and returns to the Currency screen. |