Navigation:  Banking > Currency Codes >

Buying And Selling Rates

Training Manuals Alphabetical Function List Back Print this Topic Previous topicOne level upNext topic
Show/Hide Hidden Text

Buying and selling rates can be updated on a daily bases and this will be stored against the transactions so when any transaction must be reversed or being payed, the transaction rate will be used.

 

hmtoggle_plus1Add

The user must have a security profile linked to the function Currency Codes with an access allowed of Add.

 

The "Add" button is enabled when the user selects a new valid from or valid to date.  When the "Add" button is clicked, the currency detail record is inserted in the Currency Conversion

table.

 

BUSINESS RULES WHEN ADDING:

 

1.  The currency code cannot be spaces.

2.  The currency description cannot be less than 3 characters.

3.  The currency symbol cannot be blank.

4.  A buying and selling conversion factor must be entered.

5.  The buying and selling conversion must be 1 for the base currency.

 

hmtoggle_plus1Buying Rate Frame

This field displays the buying conversion from the Currency Conversion table.  The buying rate can have a minimum value of 0.00001 and a maximum value of 99999.99999 (mandatory).  The buying and selling conversion must be 1 for the base currency.

 

The buying rate for conversion from base/foreign currency to a foreign/base currency will default on the following functions from the currency conversion table based on the effective date:

 

Creditors

Creditors Payment

Purchase Orders

Released Purchase Order Generation

Requisitions

Shipment Document

Supplier Catalogue

 

This field displays the result of the conversion values of to and from.

 

 

hmtoggle_plus1Change

The user must have a security profile linked to the function Currency Codes with an access allowed of Change.

 

When the "Change" button is clicked, the effective date, buying conversion to base and selling conversion to base are updated on the Currency Conversion table where:

 

The currency code is equal to the code entered, and The date is equal to the saved effective date.

 

BUSINESS RULES WHEN CHANGING:

 

1.  The currency code cannot be spaces.

2.  The currency description cannot be less than 3 characters.

3.  The currency symbol cannot be blank.

4.  A buying and selling conversion factor must be entered.

5.  The buying and selling conversion must be 1 for the base currency.

 

hmtoggle_plus1Conversion From

This is a read only field that displays the currency selected on the Currency tab when the mode are foreign to base (default mode) and the base currency when the mode are base to foreign..

 

hmtoggle_plus1Conversion To

This is a read only field that displays the base currency from the default setting Currency Base on System Configuration when the mode are foreign to base (default mode) and foreign currency when the mode are base to foreign.

 

hmtoggle_plus1Conversion History List

This list box is populated with the effective date and time, buying conversion to base, selling conversion to base from the Currency Conversion table based on the fields, "Conversion From" and "Conversion To".

 

The list box will display all records for the selected currency but will aid you by setting focus on the record that is valid on the current date.

 

hmtoggle_plus1Current Active Record Only

When clicked only the Currency Conversion that is active will display in the Conversion History list.

 

hmtoggle_plus1Delete

The user must have a security profile linked to the function Currency Codes with an access allowed of Delete.

 

When the "Delete" button is clicked, the selected currency code will be deleted from the Currency Conversion table.  This operation will not be performed where:

 

1.  The currency is being used as a default contractual currency by at least one External Organisation.

2.  The currency is being used as a payment currency on at least one service requisition.

3.  The currency is being used as a payment currency on at least one debtor invoice.

4.  The currency is being used as a payment currency on at least one creditor invoice.

5.  The currency is being used as the base currency in your system configuration.

6.  The currency is being used as a payment currency on at least one customer or purchase order.

 

hmtoggle_plus1Effective Date and Time

These fields displays the date and time when the new currency will be valid (mandatory). The new effective date and time will be saved to the Currency Conversion table.

 

When the tab is opened, the function will assist the user by selecting today's date and time on your computer.

 

hmtoggle_plus1Mode

In this mode the conversion will be from the currency code selected on the currency codes tab to the base currency.

 

In this mode the conversion will be from the base currency to the foreign currency selected on the currency codes tab.

 

This is the default mode.

 

hmtoggle_plus1Resulting To

This field displays the result of the conversion values of to and from.

 

hmtoggle_plus1Selling Rate

This field displays the selling conversion from the Currency Conversion table.  The buying rate can have a minimum of 0.00001 and a maximum value of 99999.99999 (mandatory).

 

The buying and selling conversion must be 1 for the base currency.

 

The selling rate is available for conversion from base/foreign currency to a foreign/base currency on the following System functions :

 

Customer Orders

Debtors

Debtors Transfer Settlement

Sales Order Wizard

Sales Catalogue

 

This field displays the result of the conversion values of to and from.