Set Up Multicurrency Module

Access this form with Administrative user rights using Organization>Set Up Modules>Multicurrency.

Use this form to select options that allow you to enter rates during transaction entry and assign the number of days in which an exchange rate is set to expire. (If the exchange rate has expired, the system displays a warning message during transaction entry; however, you can continue to enter transactions with a rate that has expired.) As the Administrator, you can also select default gain/loss accounts which can be overridden based on the currency on the Organization>Currency Setup form.

 

General Information

• Allow rate override during transaction entry: Select this check box to have the ability to enter a different exchange rate on the actual transaction entry form, such as Transactions>Enter Cash Disbursements or Enter Cash Receipts.
• Exchange rate expires Rates expire after X days: Select this check box if you would like the exchange rate to expire. Enter the number of days in which the exchange rate is valid. This affects the Expiration Date used on the Maintain>Multicurrency>Exchange Rates form. If the Effective Date entered during transaction entry, is a date after the Expiration Date, the system displays a warning message. However, you can continue to enter transactions with a rate that has expired. Note that rates are set to expire at 12 a.m. of the date entered. If your valid date range is currently June 1 to June 30, we recommend entering July 1 as the expiration date. That way, you will be able to use the exchange rate until 11:59 p.m. on June 30.

Default Gain/Loss Account Segment, Default Account Code, Title: Select an existing account as the default gain/loss account. The General Ledger segment, as well as non-balancing and restriction segments, appear in the table. Balancing and Fund type segments are not available for selection. The account code description appears in the Title column and cannot be changed. The accounts entered here by the Administrator, will be used as the default accounts on the Organization>Currency Setup>Gain/Loss Account tab.