Currency code
A currency code is an identifier for a kind of currency (US dollars, French francs, etc.). Your company will use currency codes to represent all the currencies in which you conduct business.
You must set up at least one currency code for your company. If your company conducts business in more than one currency, you will need to set up a separate code for each currency you use.
How are currency codes used?
Currency codes are used to track the currency for an account, a transaction, or a company. If your business uses multiple currencies, the Currency application exchanges, revalues, and translates your currency amounts against the base currency you have defined in General Ledger.
What makes up currency codes?
Currency codes are made up of a currency code identifier, a description, a forms expression, and a notation of decimal places.
A currency code identifier is up to five alphanumeric characters in length, and is used to label a type of currency. You can define your own currency code identifier, or you can use one of Lawson's standard currency codes.
A currency description is a text-based description of a currency code. Currency descriptions are up to 30 characters long.
A forms expression is an additional description of a currency code that prints on Lawson's printed forms. For example, you might enter USD as your forms expression to represent United States dollars.
The number of decimals defines the number of decimals used to display currency amounts. You have the choice of displaying zero or two decimals.
What is a currency relationship?
A currency relationship identifies rules for a relationship between two currency codes in a currency table. Often, currency relationships dictate how currencies are exchanged and translated. For more information on currency relationships, see the Currency User Guide.