Currencies - EMU Card
Prevent Base Rate Changes, Prevent Foreign Rate Changes
When using Currencies in transactions of any kind (for example, in Invoices or Nominal Ledger Transactions), provision has been made to allow the changing of exchange rates between the two Base Currencies and/or between the appropriate Base Currency and the foreign Currency. Such changes will only apply to the single transaction for which they have been specified. If you do not wish to allow such ad hoc changes, switch on either or both of these options as appropriate.
Member of the EMU
When entering a Receipt, the Invoice being paid can be treated as fully paid, even if the amount received is slightly different to that outstanding. The difference is posted to a Round Off or Write Off Account. In line with EMU requirements, different Round Off and Write Off Accounts can be used, depending on whether the Currency is a member of the EMU.
Round Off Accounts are used when the Receipt is in a different Currency to the original Invoice. If that Currency is a member of the EMU, the EMU Rate Round Off Account is used, otherwise the Rate Round Off Account is used. These are specified on card 2 of the Account Usage S/L setting.
Write Off Accounts are used when the Received Currency is the same as that in the original Invoice. If the Received Currency is a member of the EMU, the EMU Rate Write Off Account is used, otherwise the Write Offs Account is used. These are also specified on card 2 of the Account Usage S/L settings.
Date
The date the Currency was incorporated into the Euro scheme (i.e. the date the transitional process began).
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