- Currency for Payments
- In a multi-currency environment, this determines
whether you can settle by currencies other than the base currency in
Payment Run (PYR) and Payment
Collection Run (PYC). In addition to base currency,
you can select to settle in transaction currency, or fourth
currency.
-
Note: In Payment Profiles
(PYP), you can set the associated Currency for Payments option
differently for specific payment or collection types, taking
precedence over the setting of this option here on the
Ledger Setup (LES).
- Currency Rate for Consolidation
- This rate is used when you want to consolidate
data from other business units using the Financial report writers, in a
single currency environment. It is used as the consolidation rate. The
amounts in the subsidiary business unit are divided by this rate as part of
the consolidation process.
- If the subsidiary business units to be consolidated all have
the same base currency, leave this blank or enter a rate of 1.
- Rate Tolerance Override
- If this option is set, a warning message is displayed when
rate tolerances are exceeded, but it is possible to override them.
- Cheque Payment Limit
- This is the largest amount that should be paid by cheque. For
example, for security reasons you may wish to pay large amounts by bank
transfer. This value is always entered in the base currency and is converted
into the payment currency, if it is different. If a cheque payment is requested
for a larger amount a warning is displayed.
- Pay at Current Rates
- In a multi-currency environment, this option
determines the basis for which exchange rates are derived during Payment Run (PYR) and Payment Collection Run (PYC). Set this option
to Yes in order to calculate the
different currency values during payments and collections using the current
exchange rates, as defined in Currency Period
Rates (CNP) or Currency Daily Rates
(CND).
- Set this option to No in
order to use the original exchange rates (sometimes referred to as
'historic rates') that were posted on the source transactions being
paid or collected.
-
Note: If you set this option to
Yes, to use current rates for
payments and collections, in Payment Profiles
(PYP) you can set the associated Pay at Current Rates option
to No for specific payment or collection
types, taking precedence over the setting of this option here on
the Ledger Setup (LES).
- Rates Override
- If you have set the Pay at Current Rates option above to
Yes, the Rates Override option determines whether the
derived currency exchange rates can be overridden during
Payment Run (PYR) and Payment
Collection Run (PYC). Set this option to
Yes in order to display the
Currency Rates Override form during
payments and collections, allowing amendment of the currency
exchange rates.
-
Note: If you set this option to
Yes, to allow rates to be overridden
in payments and collections, in Payment Profiles
(PYP) you can set the associated Rates Override option to
No for specific payment or collection
types, taking precedence over the setting of this option here on
the Ledger Setup (LES).
- Value 1/2/3/4/5 Rate Tolerance Check
- This option defines the default currency rate
tolerance check, for each of the five currency rates available on a
transaction. This only applies to rates entered manually or
calculated for a journal type with an Override Value Rate Tolerances option set. The
individual rate tolerances are set on Currency Daily Rates
(CND) or Currency Period Rates
(CNP).
- If this is left blank and override tolerance checking is
required for the journal type, any rate entered or calculated for this value is
accepted without any tolerance checking.
- If this option is set for a currency value and override
tolerance checking is required for the journal type, a tolerance check is
performed on any manually entered or calculated rates using the global override
tolerance percentage identified below.
- Value 1/2/3/4/5 Rate Tolerance Level %
- If override tolerance checking is required for a currency
value, this is maximum global tolerance percentage used to check the rate. This
percentage is used to check all currencies, and overrides the percentage
entered for an individual currency on a period or daily rate.
- The percentage variance between the rate entered or
calculated, and the period or daily rate held in the system for the time period
must be within this percentage.
- Value 2 - Retain default currency code
- If this option is set, the default currency code
cannot be changed on Chart of Accounts (COA),
Customers (CUS), or Supplier
(SUS), once that currency is present on a transaction
posted to the account.