Entering a Reservation - Currency Card
This page describes the fields on the 'Currency' card in the Reservation record window. Please follow the links below for descriptions of the other parts of the Reservation record window:
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- Currency
- Paste Special
Currency register, System module
- Default taken from Contact record for the Customer (Sales Currency) or Default Base Currency
- The Currency of the Reservation is shown together with the exchange rate, which you can change in an individual Reservation if necessary. Leave the field blank to use your home Currency (unless you have set a Default Base Currency, in which case this will be offered as a default and should be treated as your home Currency).
- If you change the Currency, prices in the Reservation will be recalculated automatically, and so will the prices of any charges and Items you have already charged to Guest Accounts.
- Exchange Rates
- Default taken from
Base Currency Rates setting and/or Exchange Rate register, System module
- By default, these fields will display the exchange rates for the specified Currency on the Check In Date.
- If you change the Check In Date, the exchange rates will change automatically. Prices in the Reservation will be recalculated automatically, and so will the prices of any charges and Items you have already charged to Guest Accounts.
- You can also change the exchange rates in an individual Reservation yourself. Again, all prices will be updated.
- One of two conversion methods will be used to calculate prices in Currency. 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)
- In the example illustrated above, the Currency of the Reservation is the Euro. Base Currency 1 is the home Currency (GBP, Pounds Sterling) and Base Currency 2 is the Euro. The fields on the left show in the form of a ratio the exchange rate between the two base Currencies (taken from the record in the Base Currency Rates setting that applies on the Check In Date). The illustration shows that GBP 0.89715 buys one Euro.
- 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. In the example illustrated below, the home Currency is US Dollars (USD) and the foreign Currency Japanese Yen (JPY). JPY 136.727 buys USD 1.00.
- Please refer here for more examples.
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The Reservation register in Standard ERP:
Go back to:
Reservation Register - Introduction and Workflow
