Setting up currency codes

Currency Codes (CNC) is used to identify each valid currency and maintain general currency details. Each currency is identified by a currency code and this code must be defined before you can enter any transaction values in the currency.

The currency code details are established only once. Thereafter only the currency rates tend to change. You can choose to maintain either daily or period rates for a currency and the appropriate rates are used by the system to convert the currency values into other currencies.