What currency code details are maintained?

Each currency is identified by a currency code. You can enter other general information about the currency including:

• the currency unit name, subunit name, and currency gender all of which are used to convert the currency value into words for reports and documents
• the accounts to be used to post realized and unrealized gains and losses
• the accounts to be used for balancing transactions generated by the payment processes
• the number of decimal places used for the currency amounts
• whether daily exchange rates can be held and used for the currency.

The currency code facilities can also be used to define non-currency conversion rates, for example time recording rates per employee type, quantity conversion rates and so on.