SA Currency Setup field descriptions

Fields are presented in alphabetical order.

AR Exchange Rate

The number of domestic currency units that is equivalent to one foreign currency unit. The AR exchange rate is used when a payment is made to the customer’s account. A profit or loss is only realized at the time that the invoice is being paid.

Bank Name

If an AR Bank account code is not set up in CR Bank Setup, then the AR Bank specified in this field accumulates the total amount of cash received from customers through Customer Cash Receipt Entry and Sales Order Entry tendering and received on account. The bank selected must be set up to handle transactions in this foreign currency.

Currency Account/Purchase Draft

Select Currency Account if you have established a foreign currency bank and can remit payments with checks drawn on that bank. Select Purchase Draft if you must purchase bank drafts to finalize transactions. Purchase Draft prompts checks to be printed in domestic currency, payable to the bank where foreign funds are purchased.

Currency Code

Specify the two-character foreign currency code you are setting up or maintaining. This code must not be the same as your company’s domestic currency code set up in SA Company Setup.

Currency Symbol

Specify the one-character currency symbol that is associated with this currency. This symbol displays in various Distribution SX.e functions where you are entering transactions for foreign vendors or customers, such as Purchase Order Entry-Addons and Discounts and Sales Order Entry. If the currency symbol does not exist on your computer’s keyboard, you can type a combination of Alt + n, replacing n with the appropriate code from the currency symbol codes table.

Description

The 24-character definition of the currency code in this field. The short description and the description should represent the currency transactions that occurs.

EDI Currency Code

Specify a three-character code that meets element 100 in the ANSI x12 standards. EDI 820 cross-references the system currency code to an EDI Currency Code.

Gain/Loss GL #

A valid General Ledger account code used to account for the differences generated from foreign currency transactions. For example, exchange rates can fluctuate from the time you are invoiced by your foreign vendors to the time you make payment. Similarly, they can change from the time your foreign customers are invoiced to the time they make payment. The difference may be positive or negative, depending on the exchange rates, and should be accounted for as a gain or loss in a General Ledger account.

Do not confuse this account with the Revaluation Gain/Loss account used to record differences in transaction amounts that are revalued by GL Administration Asset and Liability Revaluation Report.

Purchase Exchange Rate

If you purchase drafts, specify the number of domestic currency units equivalent to one foreign currency unit. The system uses the voucher exchange rate at the time of purchase and the purchase exchange rate at the time of payment.

Rate Source

This field displays when you change the Revaluation Exchange Rate value. Use this field to specify the source from which the new rate was obtained.

Revaluation Exchange Rate

Specify the exchange rate to be used for revaluing open AP and AR transactions when you run the GL Administration Asset and Liability Revaluation Report.

Revaluation Gain/Loss GL#

Specify the GL account to update when revaluations are performed against the selected currency exchange rate in the GL Administration Asset and Liability Revaluation Report. Any gain or loss amounts that are calculated for the difference between the previous transaction amount and the current amount calculated using the current exchange rate during a revaluation are posted to this account.

Sales Exchange Rate

The number of domestic currency units equivalent to one foreign currency unit. This field represents the exchange rate the system uses when an order or invoice is created through Sales Order Entry or Purchase Order Entry.

Short Description

A brief four-character description that can be substituted for the description. This short description displays on most windows and reports.

Standard Currency Code

Specify the three-character international standard currency code for your company. Use the international standard currency codes from the International Organization for Standardization (ISO) list of ISO 4217 Currency Codes. Specify the codes exactly as shown, in all capital letters.

This table shows example of codes from the list:

ISO Currency Code	Country/Currency
AUD	Australia Dollar
CAD	Canada Dollar
EUR	Euro Member Countries
MXN	Mexico Peso
GBP	United Kingdom Pound
USD	United States Dollar

A standard currency code may be required if you use a third-party tax interface application. If you are integrating Distribution SX.e with a CRM product or with Infor Service Management, specify a standard ISO currency code to prevent processing errors.

If you leave this field blank, the code specified in the Currency Code field is used for foreign customers’ statements.

Voucher Exchange Rate

The number of domestic currency units equivalent to one foreign currency unit. This field represents the exchange rate the system uses to convert your purchase amounts to domestic currency amounts.