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This text refers to program version 4.3  

Exchange Rates - Both Systems in Combination

If you are using both the simple conversion and the Dual-Base systems, you can relate foreign Currencies to either Base Currency (although in transitional countries, you should only relate foreign Currencies to the Euro).

You should use this register for all Exchange Rates except those between the two Base Currencies. These should be stored in the Base Currency Rates setting in the System module.

The example illustrated below shows a foreign Currency (USD) that has been related to Base Currency 1 (GBP). 1.7457 USD buys one unit of Base Currency 1. This example is suitable for voluntary users of the Dual-Base system.

In this next example, applicable to users in transitional countries, the foreign Currency (USD) has been related to Base Currency 2 (EUR). 0.81776 USD buys one unit of Base Currency 2.

In transitional countries, when you enter a transaction in a foreign Currency such as USD, EMU rules state that the home Currency is first converted to the Euro, and that there should then be a second conversion to the foreign Currency. This is achieved in FirstOffice by using the Base Currency Rates setting for the first conversion, and the Exchange Rate relating the foreign Currency to Base Currency 2 for the second part. So, in transitional countries, all foreign Currencies must be related to Base Currency 2 as illustrated immediately above. This includes the Currencies of any other countries undergoing the transitional process of joining the Euro system at the same time. To prevent the accidental recording of Exchange Rates relating a foreign Currency to Base Currency 1, use the Security Controls in the Base Currency setting.

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