New Organization Wizard - Functional Currency Panel

Access this panel with Administrative user rights using File>New Organization.

Use this panel to select the primary currency to use for this organization. You can choose from many types of currency, such as the US Dollar, Euro, Pound Sterling, Yen, or Mexican Peso.

• If the Multicurrency module is not installed, this will be the only currency the organization can use to operate.
• If the Multicurrency module is installed, this will be the primary reporting currency. That is, the currency in which exchange rate gains and losses are recorded. Other currencies can be used once the Multicurrency module is added, if necessary, (Organization>Add a Module) and the currencies are set up (Organization>Set Up Modules>Multicurrency).

Once the wizard is finalized, the currency formatting can be specified using the Organization>Currency Setup form. You can set up different currency formatting for each currency type used in the system. To determine the decimal and grouping symbols used in reports, with Administrative user rights, use the Organization>Currency Setup form. Other decimal and grouping symbols (such as the period and comma), found throughout the system, follow the computer's regional settings (Start>Settings>Control Panel>Regional Options). All non-currency numbers follow the computer's regional settings.

 

What is your functional currency?: Select a currency type from the drop-down list. This is the primary currency that will be used throughout the organization. Once you complete this wizard, the functional currency cannot be changed.