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Examples - Prices in Currency

To create a Price List and accompanying Prices in Currency, the procedure described here can be used again here, with one amendment. When entering the Price List, specify the appropriate Currency. When the 'Calculate Price Lists' function is run, the Prices of all Items will be converted to the selected Currency. The Price records created will therefore contain Prices in the converted Currency. If, as in the previous example, a discount of 7% was specified, this will be deducted after the Currency conversion.

For this example, the following Prices have been defined:

The Price List "DOL" has three members, Item Numbers 10101 to 10103. It has US Dollars as its Currency. All Prices in the "DOL" Price List are therefore in dollars. The Price List "DOL" is assigned to the Customer Category "USS":

Customer no 008 is a member of this Customer Category. When a Quotation, an Order or an Invoice is issued for this Customer, Hansa will automatically use the prices on the "DOL" Price List. If this Invoice is given the Currency Code "USD" (for US Dollars), the Invoice will be issued in dollars (i.e. the prices will be taken straight from the "DOL" Price List without any further conversion).

The Nominal Ledger Transaction generated from this Invoice will show figures in both foreign and home Currencies (and in the second base Currency if appropriate): the conversion rate shown on the 'Currency' card of the Invoice will be used.

If the Customer instead is to be invoiced in the home Currency, ensure the Currency field is blank or showing the Currency Code for the home Currency (Pounds Sterling in the example) and the prices will be converted from US Dollars using the current conversion rate as the Items are added to the Invoice:

If, for some reason, the Invoice is to be issued in another Currency, e.g. Japanese Yen, the Currency field of the Invoice should be amended accordingly and the prices will be converted to that Currency in the Invoice, using the latest valid conversion rate for that Currency:

Note that in each illustration, the Total GP and the Base remain the same, because they are always expressed in the home Currency.