Converting the memo currency to the fourth currency

Memo Currency Upgrade is a tool which allows the transfer of amounts in the Memo value to amounts in the Fourth Currency value. This is needed by users who previously used the Memo Value as a substitute Fourth Currency value, with a ledger analysis code holding the currency code. The Memo Currency Upgrade must be run for a whole ledger at a time, and each budget ledger is processed separately.

In order to run this process, the fourth currency must be defined on the Business Unit Setup and the value from which it is calculated must be the pivot. The Value 4 Business Unit settings are definable at the start of the Memo Currency Upgrade process.

What Does Memo Currency Upgrade Do?

The Memo Currency Upgrade function checks that the fourth currency is defined on the Business Unit Setup, and that the value from which it is calculated is the pivot.

It processes every ledger transaction posted to the selected ledger and verifies that each transaction does not already contain fourth currency data. If fourth currency values are found, a message is displayed, indicating that existing values will be overwritten, and allowing you to continue or cancel.

For each ledger transaction it copies the Memo amount into the Fourth Currency amount and the selected Ledger Analysis code into the Fourth Currency code. It also calculates the exchange rate between the new Value 4 amount, and the value from which it is calculated, as defined in Business Unit Setup, and puts this in the Fourth Currency Rate field on the transaction. It does not perform any rate tolerance checking because it is working with historic data.