Business Unit Setup - Value 4 Entries

Value 4 properties refer to the fourth of the four currency values that can be held on each transaction. This can be a fixed currency, where the same currency is always used as the fourth currency, or it can be a variable currency where the currency can vary from one transaction to the next and the currency code is identified on the transaction itself. However, unlike the transaction currency, the fourth currency cannot be selected as the pivot currency and is not necessarily calculated from the pivot currency. It can be calculated from any of the other three currencies available on the transaction.

  1. Complete this information in General:
    4th Currency Value Name
    A generic name given to the Value 4 currency value entered on posting transactions. For example, banking currency.
    4th Currency Code
    The code identifying the fourth currency if this currency is fixed. Leave blank if the fourth currency is to be defined as variable.
    Note:  If this currency has not been defined using Currency Codes (CNC), it is added automatically.
    4th Currency Posting Rule
    The posting rule that controls whether or not the currency value is required on each ledger posting transaction. Available options are:
    • Undefined - this option prevents a fourth currency value being entered or imported on any transactions.
    • Only present if entered - this option allows a fourth currency to be entered manually on a transaction. However, the value is optional, so if a fourth currency code is not entered a value is not calculated.
    • Calculated if not entered - this option means the fourth currency value is mandatory. If the fourth currency code is entered, the currency value is calculated from whichever value is defined in the Fourth Currency Calculate From field.
    Note: If currency adjustments need to be made in this currency alone, these posting rules can be overridden on a journal type.
    4th Currency Calculated From
    This option defines the value from which the fourth currency is calculated. Options are:
    • Undefined
    • From Value 1
    • From Value 2
    • From Value 3
    • From Value 5.
    Value 4 Cur Amt Decimal Places
    The number of decimal places held for the fourth currency. A value can be held with up to three decimal places.
    Note:  If the 4th Currency Code is treated a variable, the number of decimal places is defined by the Decimals Allowed field value on the run-time chosen Currency Code Definition.
  2. Complete this information in Amount Balancing:
    4th Currency Amount Balancing
    You may wish to force the fourth currency values on the transactions in a journal to balance, that is to net to zero. Sometimes, the values may not be exactly balanced due to conversion rounding errors. This option determines whether the transactions must balance, and if so how an imbalance is corrected. Three options are available:
    • None - the currency values do not need to balance.
    • Manual - the user must manually balance the fourth currency values in the journal.
    • Automatic - the system posts the amount of the imbalance to one of the Value 4 Currency Balancing accounts, depending on whether the difference is a debit or credit value.
    Note:  If the fourth currency code is used as a variable currency, balancing by value 4 is only enforced when the fourth currency is common throughout the set of transactions selected.
  3. Complete this information in Balancing Details:
    Rounding Threshold
    This amount is used as a tolerance check if the automatic balancing option is being used to balance the fourth currency values on transactions. If the amount of an imbalance is greater than this amount, it cannot be posted automatically. This prevents very large postings being made under the guise of rounding errors.
    Credit Balancing Account
    The ledger account to which any automatically generated, fourth currency balancing transactions with a credit value are posted. If you leave this blank, all balancing transactions are posted to the Debit/Net Balancing account.
    Debit/Net Balancing Account
    The ledger account to which any automatically generated, fourth currency balancing transactions with a debit value are posted.
  4. Save your changes.
Related topics