Entering a Goods Receipt - Currency Card
- Currency
- Paste Special
Currency register, System module
- Default taken from Purchase Order, Customer (Purch. Currency) or Default Base Currency
- The Supplier's invoicing Currency (if not the home Currency). The stock value of the Items on the Goods Receipt will be recorded in the Currency specified here.
- Exchange Rates
- Default taken from
Base Currency Rates setting and/or Exchange Rate register, System module
- In the case of Goods Receipts entered directly to the Goods Receipt record, the current Exchange Rate will be entered here. In the case of Goods Receipts created from Purchase Orders, the Exchange Rate from the Purchase Order will be entered here.
- One of two conversion methods will be used. The Dual-Base system will be useful for companies that have offices in two countries that need to report in both Currencies, for companies operating in countries where there is a second Currency (usually the US Dollar or Euro) in common use in addition to the national one, and for companies in the Euro zone who retain their old national Currency for comparison purposes. The second method is a simple conversion from the foreign Currency to the home Currency, applicable to the majority of worldwide Currency transactions. These are described below.
- Exchange Rates (Dual-Base System)
- If you are using the Dual-Base system, the Base Currency 1 and 2 fields on the left show in the form of a ratio the exchange rate between the two base Currencies (taken from the latest record in the Base Currency Rates setting).
- Note that European Monetary Union (EMU) regulations specify that the ratios must always show how many units of the home or foreign Currency can be bought with one Euro.
- Exchange Rates (Simple Currency Conversion System)
- In the case of a simple currency conversion system, the Rate and right-hand Base Currency 1 fields are used to show a simple exchange rate between the foreign and home Currencies.
