11 Currency and Exchange Rate

You can enter as many types of currency as necessary by the organization to control and examine financial data. If your organization uses multiple currencies, you need to create exchange rates.

• Adding a Currency Type
  
• Setting the Base Currency
  
• Adding and Updating Exchange Rates
  

Adding a Currency Type

1. In Reporting and Analytics, click Admin, click Warehouse, click Miscellaneous, and click Currency.
2. Fill out the form as described in the following table:

   Field	Description
   Currency Name	Enter the name of the currency type. For example, American Dollar.
   Abbreviation	Optionally, enter an abbreviation for the currency. For example, USD.
   Multiply	Select to multiply the currency against the base currency.
   Round To	Enter the number of decimal places for rounding in the 0.0 format. For example, 0.00 to round to two decimal places and 0.0 to round to one decimal place.

Setting the Base Currency

1. In Reporting and Analytics, click Admin, click Warehouse, click Miscellaneous, and click Enterprise Options.
2. Select Enable Common Currency.
3. Select the currency type from the Common Currency drop-down list.

   This is the currency to which other currencies are exchanged and converted.

Adding and Updating Exchange Rates

1. In Reporting and Analytics, click Admin, click Warehouse, click Miscellaneous, and click Exchange Rate.
2. Search for or select a currency and click Configure.
3. On the Exchange Rate Administration page, click Add, or select an existing exchange rate and then click Edit.
4. Fill out the form as described in the following table:

   Field	Description
   Business Date	Enter or select the date on which this exchange rate goes into effect.
   Business Date	Optionally, enter or select the date on which this exchange rate stops being used for calculations.
   Exchange Rate	Enter the multiplier relative to the base currency.