Define Central Currencies, Central and Local Exchange Rates, and Exchange Rate Types

This document explains how to define currencies, exchange rate types, and exchange rates in a MUC configuration.

Outcome

Central currencies are defined, including information about exchange rate factors (the relationship between foreign and local currencies) and the number of decimal places for each currency. The local currency is the base currency used by the company or division (one or several).

Central and local exchange rate types are defined and connected to exchange rates. Exchange rate types can also be connected to customers, suppliers, and price lists.

Central and local exchange rates are defined. These can be specified in up to six decimal places, and all six decimal places are used for all exchanges. However, the results are displayed with two decimal places at the most.

Exchange rate, exchange rate type, and currency are stored in the (CCURRA) file.

Before you start

Follow these steps

Overview

Start by defining central currencies, exchange rate types, and exchange rates in the blank division. When you are finished with the blank division, continue defining local exchange rate types and exchange rates in the other divisions.

  1. Select one of the following alternatives:

    • To define the central currency, exchange rate type, and exchange rate for the blank division, go to Define Central Currency .
    • To define local exchange rate type and exchange rate, go to Define exchange rate type and exchange rate.

Define central currency

  1. Start 'Currency. Open' (CRS055/B).

    This instruction is based on panel sequence E.

  2. Specify the currency identity and select New.

  3. On the E panel, specify a name and description for the currency. Also, specify a rate factor and number of decimals to use and, when necessary, an accepted rate deviation. The number of sales price decimals can optionally be defined if the regular number of decimals should not be applied to sales prices. Note that the sales price decimals functionality is not supported in all parts of the system. Press Enter and F3.

Define exchange rate type and exchange rate

  1. Start 'Exchange Rate Type. Open' (CRS056/B).

    This instruction is based on panel sequence E1.

  2. Specify the exchange rate type identity and select New.

  3. Specify a name and description for the exchange rate type and an optional rate type text. Press Enter.

    'Exchange Rate Type. Open per Currency' (CRS059/B) is started.

  4. In (CRS059/B), select Open for the currency.

  5. 'Exchange Rate. Open per Date' (CRS058/B) is started.

  6. In (CRS058/B), specify the date from which the rate type/currency becomes valid and select New.

  7. On the E panel, specify the exchange rate. Press Enter and F3.

    The result of your settings can be reviewed in 'Exchange Rate Type. Open Rate Type' (CRS057), reached by selecting option 11 = 'Rate/rate type' in (CRS055).

Parameters to set

Program ID/Panel Field The field indicates …

1. Define currency

(CRS055/E)

Rate factor

…the relationship between one unit of this currency and another unit of local currency. The use of the rate factor makes it easier to define exchange rates between widely differing currencies.

The valid alternatives are:

1-1000:1

2-100:1

3-10:1

4-1:1

5-1:10

6-1:100

7-1:1000

(CRS055/E)

Number of decimal places

…the number of decimal places to be used for the respective currency. Valid alternatives are zero up to two decimal places.

(CRS055/E)

Accepted rate deviation

… the deviation accepted when rate is entered or changed manually in connection with transaction entry. The value is entered as a percentage for each currency.

(CRS055/E)

Price decimals

… the number of sales price decimals to use for the currency. Valid values are 0-4. If the value is 0, then the currency’s regular number of decimal places is used.

2. Define exchange rate type and exchange rate

(CRS056/B), (CRS057/B)

Rate type

…the exchange rate type.

The valid alternatives are:

01 = Variable rate

02 – 99 = May be used optionally

The rate type is also connected to customer, supplier, price list, year, and budget procedures.

(CRS059/B)

Currency

…the currency that is to be connected with the exchange rate type.

(CRS058/B)

Rate date

…the date from which the rate type/currency becomes valid.

(CRS058/E)

Exchange rate

…the exchange rate for the connected currency, which can be specified with up to six decimals. The result is, however, displayed in zero up to two decimal(s) places, depending on the settings in (CRS055/E).

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