Entering a Personnel Payment - Currency Card
- Currency
- Paste Special
Currency register, System Module
- Default taken from Default Base Currency
- You can record a Personnel Payment in any Currency, although you can only use one Currency in each Personnel Payment record.
- All figures entered in the Personnel Payment should be in Currency: the resulting Nominal Ledger Transaction will show figures in both foreign and home Currencies (and in the second base Currency if appropriate).
- Exchange Rates
- The current exchange rates for the specified Currency will be entered by Hansa.
- 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 the Dual-Base system is being used, 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, only the Rate and right-hand Base Currency 1 fields are used to show a simple exchange rate between the foreign and home Currencies.
