Using Alternate Currency Pricing
Overview: Use alternate currency pricing if you want to price offers in a foreign currency. The system requires you to define a currency code and conversion rate for each foreign offer, and restricts each order to only one currency. The system also displays the alternate currency on customer related reports and forms.
The Use Alternate Currency Pricing (H89) system control value controls whether alternate currency pricing is enabled. Enabling alternate currency pricing has these effects:
• Currency Conversion Warning Window
• Defining the Item Offer and SKU Offer Price for Alternate Currency
• Alternate Currency Pricing in Order Entry/Maintenance
• Reviewing Invoice Totals in the Alternate Currency
• Authorizing Credit Cards and Submitting Deposits using Alternate Currency Pricing
• Warehouse Management Interface
• Alternate Currency Pricing Setup
• Comparing Alternate Currency Pricing with Multiple Currency by Offer
Flowchart: This flowchart explains the relationships that exist when you use alternate currency pricing.
For each offer, you can define the currency of the offer and the conversion rate. If the offer is for the local currency, you do not need to define the currency code and conversion rate.
Note: When you use alternate currency pricing, the system always uses the conversion rate defined in the Offer file, the system never uses the conversion rate defined in the Currency file for alternate currency pricing.
Determining the local currency and the alternate currency: The local currency is defined in the Local Currency Code (A55) system control value. An offer is associated with an alternate currency only if you define a currency code other than the code defined in the Local Currency Code system control value, along with a conversion rate, for the offer.
Currency calculations: The system multiplies the amount in the local currency by the conversion rate to determine the amount in the alternate currency. Likewise, the system divides the amount in the alternate currency by the conversion rate to determine the amount in the local currency.
Local currency to alternate currency: The system uses this calculation when converting the local currency to the alternate currency: local amount x conversion rate = alternate (foreign) amount.
Alternate currency to local currency: The system uses this calculation when converting the alternate currency to the local currency: alternate (foreign) amount / conversion rate = local amount.
What if you change the conversion rate defined for the offer? If the conversion rate defined for the offer changes, the system:
• updates any item/offer prices based on the new conversion rate.
• updates any SKU/offer prices based on the new conversion rate.
• updates any item price breaks based on the new conversion rate.
• updates any SKU price breaks based on the new conversion rate.
• does not update the alternate price defined for existing orders; new orders entered for the offer use the new conversion rate. Existing orders continue to use the conversion rate that was defined for the offer when the order was placed. The conversion rate at the time of order entry is stored in the Conversion rate field in the Order Header Extended file. Additionally, the currency of the order is stored in the Currency field in the Order Header Extended file.
The Decimalized currency field in the Currency file indicates whether the currency allows decimals in alternate currency pricing.
• If Decimalized currency is set to Y, the currency uses decimals. When converting the amount, the amount includes decimals. For example, 49.99 instead of rounding to 50.00.
• If Decimalized currency is set to N, the currency does not use decimals. Instead, the amount is rounded to the nearest whole unit of currency. For example, 50.00 instead of 49.99.
Note: Decimalized currency does not apply to currency conversion in purchase order entry and receipts.
Example: The local currency is US dollars. The alternate currency is Japanese Yen. The currency code for US dollars has Decimalized currency set to Y; the currency code for Japanese Yen has Decimalized currency set to N. You enter an order associated with offer Y01. Offer Y01 is defined for Japanese Yen and the conversion rate for the offer is 133.66. The US price for an item in this offer is 49.99 dollars. When converted to Japanese Yen, the price for the item in the offer is 6682 YEN. Using this example, the system calculates the alternate price: 49.99 x 133.66 = 6681.66 (without decimals = 6682.00). The system calculates the local price: 6682.00 / 133.66 = 49.99.
if the price is... |
and you are converting to... |
then the calculated price is... |
49.99 (local - US dollars) |
Japanese Yen: conversion rate is 133.6601 decimalized currency is N |
6682.00 (Japanese Yen) |
66812.00 (Japanese Yen) |
US dollars: conversion rate is 133.6601 decimalized currency is Y |
49.99 (local - US dollars) |
49.99 (local - US dollars) |
Canadian dollars: conversion rate is 1.5745 decimalized currency is Y |
78.71 (Canadian dollars) |
78.71 (Canadian dollars) |
US dollars: conversion rate is 1.5745 decimalized currency is Y |
49.99 (local - US dollars) |
Currency Conversion Warning Window
If during currency conversion, the alternate amount you enter needs to round to the nearest whole unit of currency (the Decimalized currency field defined for the currency is N), the Currency Conversion Warning Window displays, indicating the amount has changed. If the local amount also needs to round to the nearest whole unit of currency, the system rounds to the nearest whole unit of currency for both the alternate currency amount and the local amount.
Example 1: Alternate currency rounds to the nearest whole unit of currency.
Japanese currency has Decimalized currency set to N, indicating the currency rounds to the nearest whole unit of currency. If you enter 13000.50 for the Japanese Yen amount, the system rounds the amount to the nearest whole unit of currency and then divides this amount by the conversion rate to determine the local currency. Because of the rounding, this window displays indicating the Japanese Yen amount has changed.
1. You enter alternate Japanese Yen amount of 13000.50. Japanese currency has Decimalized currency set to N.
2. The system rounds the alternate amount you entered to the nearest whole unit of currency: 13000.50 rounds to 13001.00.
3. The conversion rate is 133.66. The system divides the alternate amount by the conversion rate to determine the local amount: 13001.00 / 133.66 = 97.27.
4. The Currency Conversion Warning window displays indicating the currency conversion and the new alternate currency amount: Due to currency conversion, the JPY amount 13000.50 has been changed to 13001.00.
Example 2: Alternate currency and local currency round to the nearest whole unit of currency.
Japanese currency has Decimalized currency set to N, indicating the currency rounds to the nearest whole unit of currency. If you enter 13000.50 for the Japanese Yen amount, the system rounds the amount to the nearest whole unit of currency and then divides this amount by the conversion rate to determine the local currency. If the local currency also has Decimalized currency set to N, the system rounds the converted local amount to the nearest whole unit of currency. Because of the rounding, this window displays indicating the Japanese Yen amount has changed.
1. You enter alternate Japanese Yen amount of 13000.50. Japanese currency has Decimalized currency set to N.
2. The system rounds the alternate amount you entered to the nearest whole unit of currency: 13000.50 rounds to 13001.00.
3. The conversion rate is 133.66. The system divides the alternate amount by the conversion rate to determine the local amount: 13001.00 / 133.66 = 97.27.
4. The local currency has Decimalized currency set to N. The system rounds the converted amount to the nearest whole unit of currency: 97.27 rounds to 97.00.
5. Because of currency conversion, the new alternate currency amount is 12965.00. The system multiplies the new local amount by the conversion rate to determine the new alternate currency amount: 97.00 x 133.66 = 12965.00.
6. The Currency Conversion Warning window displays indicating the currency conversion and the new alternate currency amount: Due to currency conversion, the JPY amount 13000.50 has been changed to 12965.00.
How to display this screen: This window displays when you enter an amount for an alternate currency that does not use decimals and the system must round the amount you entered to the nearest whole unit of currency.
Currency Conversion Warning
Due to currency conversion, the JPY amount 13000.50 has been changed to 12965.00
F3=Exit |
Defining the Item Offer and SKU Offer Price for Alternate Currency
When you create an item/offer or a SKU/offer, the field Alternate currency price, displays allowing you to enter the price of the item or SKU in the alternate currency.
• If you enter the alternate price for the item/SKU offer, the system updates the Price field with the local price, using the conversion rate defined for the offer.
• If you enter the local price for the item/SKU offer, the system updates the Alternate currency price field with the alternate price, using the conversion rate defined for the offer.
• If you enter both an alternate price and local price for the item, the system uses the alternate price you define and updates the Price field (local price) using the conversion rate defined for the offer.
Additionally, when you enter price breaks for the item offer or SKU offer, the system allows you to enter the price break in the local currency or alternate currency. When you enter the price break amount, the system converts the amount to the other currency so you can see the price break in both the local and alternate currency.
The Price field on the Change Item Offer screen, Change SKU Offer screen, Change Item Price screen, and Change SKU Price screen is display only if the Use Alternate Currency Pricing (H89) system control value is set to Y and a conversion rate is defined for the offer. If you wish to update the price of the item or SKU in the offer, you must update the alternate currency price. The system updates and displays the new local price using the conversion rate defined for the offer. Additionally, if the offer is not associated with an alternate currency, the Alternate currency price field does not display on the Change Item Offer screen, Change SKU Offer screen, Change Item Price screen, and Change SKU Price screen.
Note: The alternate item/offer price or SKU/offer price is not stored in any file in CWDirect; the system displays the alternate price based on the local price defined in the Price field in the Item Price file and the conversion rate defined for the offer.
Can you enter an alternate currency amount for other item/offer and SKU/offer values? You can only define an alternate currency amount for the offer price. You must enter any other amounts for the item/offer or SKU/offer, such as a special handling charge, gift wrap charge, or freight, in the local currency.
You can create or update the alternate currency price for an item/offer or SKU/offer using these menu options:
• Assigning Items/SKUs to Offers (MITM)
• Work with Item Prices Screen (Quantity Price Breaks by Offer) (MITM)
• Creating Item/SKU Offers (MISO)
• Updating Item/SKU Offers (MUSO)
• Copying SKU Offer Information (MCSO)
Alternate Currency Pricing in Order Entry/Maintenance
When a customer places an order, the system defaults the offer associated with the source code you enter on the order header to the order detail lines. The currency code and conversion rate defined for the offer are stored in the Order Header Extended file in the Currency code field and Conversion rate field.
Note: You cannot change the source code defined for the order to another source code that is associated with an offer with a different currency or an error message displays: Source code not associated with current currency code.
Searching for a price: The system searches for an item/SKU price only among offers in the same currency. If the item is not available in an offer in that currency, the system displays a message: Price (.00) cannot be zero for item.
Example: You enter an order using source code JPY2002, which points to offer JP1. Offer JP1 is associated with the Japanese Yen currency. The customer orders items AB, BC, CD, and DE.
Item |
Item/Offer Prices |
Order Price |
AB |
JP1: currency is Japanese Yen price is 1671.00 Japanese Yen (12.50 US dollars) US1: currency is US dollars price is 14.00 US dollars CA1: currency is Canadian dollars price is 18.00 Canadian dollars (11.46 US dollars) |
1671.00 Japanese Yen |
BC |
JP2: currency is Japanese Yen price is 1820.00 Japanese Yen (14.00 US dollars) US1: currency is US dollars price is 14.50 US dollars |
1820.00 Japanese Yen |
CD |
US1: currency is US dollars price is 24.00 US dollars |
no price found |
DE |
US1: currency is US dollars price is 18.00 US dollars CA1: currency is Canadian dollars price is 16.50 Canadian dollars (10.51 US dollars) |
no price found |
Calculating the local price when searching for a price: If the system searches for an item/offer price or SKU/offer price and uses the alternate price defined for an offer with a different conversion rate, the system calculates the local price to default for the item on the order detail line using the conversion rate defined in the Order Header Extended file.
1. The system searches for a price and uses the alternate price defined for the item in an offer other than the offer associated with the source code on the order header. The conversion rate for this offer differs from the conversion rate defined in the Order Header Extended file.
2. The system divides the alternate price for the item by the conversion rate defined in the Order Header Extended file to determine the local price to display on the order.
3. The calculated local price for the order detail line will differ from the local price that is defined in the offer; the alternate price on the order detail line will match the alternate price that is defined in the offer. It is important that the alternate price that displays in the customer’s catalog is what is charged on the order detail line. Since the calculated local price on the order detail line differs from the local price defined in the offer, the system defaults the price override reason defined in the Default Price Override Reason (B35) system control value to the order detail line.
Example:
You enter an order associated with an alternate currency (the source code JPY2002 is associated with offer JP1 (currency code JPY and conversion rate 133.66). The currency code in the Order Header Extended file is JPY (Japanese currency) and the conversion rate in the Order Header Extended file is 133.66.
• You add item JP111 to the order. JP111 is available in offer JP1 for 95.55 (alternate price 12771.00). The local price that displays for the order detail line is 95.55. The alternate price for the order detail line is 12771.00.
• You add item JP222 to the order. JP222 is not available in offer JP1. The system searches for a price for JP222 and finds a price in offer JP2. JP222 is available in offer JP2 for 66.66 (alternate price 8665.00). The system calculates the local price for the order detail line, using the conversion rate defined in the Order Header Extended file. The calculated local price is 64.83. The alternate price is 8665.00. The price override reason code defined in the Default Price Override Reason (B35) system control value defaults to the order detail line.
Offer JP1: conversion rate is 133.66 Offer JP2: conversion rate is 129.99 Order Header Extended file: currency code is JPY, conversion rate is 133.66 |
|||
Item |
Price in offer JP1 |
Price in offer JP2 |
Order Pricing Results |
JP111 |
local: 95.55 alternate: 12771.00 |
none |
System does not search for a price and uses the price defined in offer JP1. The local price for the order detail line is 95.55; the alternate price for the order detail line is 12771.00 |
JP222 |
none |
local: 66.66 alternate: 8665.00 |
System searches for a price and uses the price defined in offer JP2. The system calculates the local price: alternate currency price (8665.00) / conversion rate in Order Header Extended file (133.66) = local price for item on this order (64.83). The local price for the order detail line is 64.83; the alternate price for the order detail line is 8665.00. The price override reason defined in the Default Price Override Reason (B35) system control value defaults to the order detail line. |
Alternate Currency Override Window: The item price and totals display on the order in the local currency. However, you can enter or review the alternate currency amounts by pressing F10 to advance to the Alternate Currency Override window on the following screens.
• Work with Order Line Screen (Changing/Adding an Item): display and enter the alternate currency for the item price, line level freight amount, and special handling amount.
• Enter Additional Charges Window and Change Additional Charges Screen: display and enter the alternate currency for the additional charge amount.
• Enter Cash Control For Window (Cash/Check Payment Type): display and enter the alternate currency for the cash/check pay type amount.
• Enter Credit Card For Window (Credit Card Payment Type): display and enter the alternate currency for the credit card pay type amount.
• Enter Coupon/Credit For Window (Coupon/Credit Payment Type): display and enter the alternate currency for the coupon/credit pay type amount.
• Enter Payment Method Screen: display and enter the alternate currency for the pay type amount.
• Work with Order Ship to Properties Screen: display and enter the alternate currency for the freight override amount and estimated freight amount.
Sample Alternate Currency Override window: A sample of the Alternate Currency Override window is shown below. This fields on this screen change, based on the screen you are on when you display the window.
Alternate Currency Override
Enter Override Amount in JPY
Item price 12771.00 Line level freight Special handling
F3=Exit |
Alternate Currency View screen: Additionally, you can advance to the Alternate Currency View Screen from the Display More Options Screen. The Alternate Currency View screen allows you to review the order totals and the price for each order line in the alternate currency. This screen displays only if the Use Alternate Currency Pricing (H89) system control value is set to Y and the order is associated with an alternate currency.
Reviewing Invoice Totals in the Alternate Currency
The invoice totals display in the local currency. You can review the alternate currency totals for the invoice on the following screens:
• Display Invoices Screen: the field, Alternate invoice total, displays if the order is associated with an alternate currency.
• Display Invoice Header Screen: the field, Currency code, displays if the order is associated with an alternate currency. Under this field the merchandise, freight, tax, special handling, additional charges, additional freight, invoice total, discount amount, and hidden freight display in the alternate currency.
Authorizing Credit Cards and Submitting Deposits using Alternate Currency Pricing
Authorizations: When you send credit card authorization transactions to Paymentech for authorization, the system converts the local authorization amount into the alternate (foreign) amount if a currency code and conversion rate are defined in the Order Header Extended file. If you are using an authorization service other than Paymentech, the authorization amount is sent to the authorization service in the local currency.
The authorization amount in the CC Authorization Transaction file and On-Line Authorization file is in the local currency. The amount authorized in the Authorization History file is in the local currency.
Deposits: When you send credit card deposit transactions to Paymentech for settlement, the system converts the local deposit amount into the alternate (foreign) amount if a currency code and conversion rate are defined in the Order Header Extended file. If you are using a deposit service other than Paymentech, the deposit amount is sent to the deposit service in the local currency.
The deposit amount in the CC Deposit Transaction file is in the local currency. The amount deposited in the Authorization History file is in the local currency.
Paymentech service bureau: The authorization and deposit amounts in the Paymentech record layouts display in the alternate currency if the order is associated with an alternate currency (a currency code and conversion rate are defined in the Order Header Extended file).
When you are setting up Paymentech as an authorization and deposit service, please note these required settings for alternate currency pricing:
• Paytype cross reference (option 8 at the Work with Authorization Services Screen): Create a cross-reference for each pay type code for which you wish to receive credit card authorization and deposit, using the vendor pay code information supplied by Paymentech.
• Currency cross reference (option 12 at the Work with Authorization Services Screen): Create a cross-reference for each currency code you will use on orders receiving credit card authorizations and deposits, using the vendor currency code information supplied by Paymentech.
See Paymentech Processing for additional Paymentech information.
Authorization and deposit history: The function key, F2, displays for authorization and deposit history allowing you to toggle the amounts between the local currency and alternate currency. Additionally, when viewing the amount in the alternate currency, the Currency code field displays in the upper right corner of the screen indicating the currency of the alternate amount. If the order is not associated with an alternate currency, an error message displays when you press F2: No conversion rate for offer.
• Display Authorization History Screen: you can toggle the Authorization amount and Deposit amount between the local currency and alternate currency.
• Authorization History Details Window: you can toggle the Amount submitted, Amount available, and the Amount deposited between the local currency and alternate currency.
• Display Deposit History Screen: you can toggle the Deposit amount between the local currency and alternate currency.
• Display Deposit History Detail Screen: you can toggle the Deposit amount between the local currency and alternate currency.
Warehouse Management Interface
The currency code and conversion rate associated with the order are sent to the warehouse management system when you generate pick slips.
• If using PkMS version 19, the currency code from the Order Header Extended file is stored in the PK currency field and the conversion rate from the Order Header Extended file is stored in the PK misc num 1 field in the PkMS Pick Ticket Header File (I1INPT00).
• If using the generic WMS interface, the currency code from the Order Header Extended file is stored in the Currency code tag and the conversion rate from the Order Header Extended file is stored in the Conversion rate tag in the Generic WMS Pick XML message. See the CWIntegrate user reference for a sample Generic WMS Pick XML message.
The system requires you to define a division and a bank when you enter cash receipts. If the bank is associated with a foreign currency, only invoices and invoice credits associated with the foreign currency display in cash receipts. The currency code associated with the invoices displays at the top of the screen in cash receipts and the cash receipts amounts display in the foreign currency. If the bank is associated with the local currency, all invoices, regardless of currency display in cash receipts.
What is the currency of the bank? The currency associated with the bank you define for posting cash receipts determines if you advance to the Pay Alternate Currency Open Items screen or the Pay Open Items screen.
• if the bank is associated with the local currency (the currency code defined in the Local Currency Code (A55) system control value), the system advances you to the Pay Open Items Screen. This screen displays all invoices, regardless of currency. Any cash you post against an open item is in the local currency.
• if the bank is associated with a foreign currency, the system advances you to the Pay Alternate Currency Open Items Screen. This screen displays only invoices associated with the currency defined for the bank. Any cash you post against an open item is in the foreign currency. The total open item amount, paid amount, and balance displays in the alternate currency. You can review the local amounts on the Display A/R Open Item Screen.
Pay Alternate Currency Open Items screen: If the bank you define for cash receipts is associated with a foreign currency, the system advances you to the Pay Alternate Currency Open Items Screen instead of the Pay Open Items Screen. The Pay Alternate Currency Open Items screen allows you to:
• review only invoices and invoice credits associated with the foreign currency.
• post cash receipts for the invoices in the alternate currency.
• pay the open item balance in full in the alternate currency.
• advance to the Work with Alternate Currency Payment Details Screen, where you can apply payment, discount, and writeoff amounts separately for an invoice in the alternate currency.
• apply the total cash amount as payment to open invoices in the alternate currency.
The system multiplies the invoice amounts by the conversion rate defined in the Order Header Extended file to determine the invoice amounts in the alternate currency.
You cannot create an on-account amount (overpayment amount) when using the Pay Alternate Currency Open Items screen. When you post payments in the alternate currency, the payment amount must be less than or equal to the total amount of all open invoices for the bill-to account.
A/R batch processing: You cannot pay for open items in the alternate currency using High Speed A/R Payment Entry and Batch Processing (WABP); the amount you enter must be in the local currency, regardless of the currency defined for the bank.
Working with A/R open items: A new function key, F2, displays for open items allowing you to toggle the amounts between the local currency and alternate currency. Additionally, when viewing the amount in the alternate currency, the Currency code field displays in the upper right corner of the screen indicating the currency of the alternate amount. If the order is not associated with an alternate currency, an error message displays when you press F2: No conversion rate for offer.
• Display A/R Open Item Screen: you can toggle the Total A/R amount, Balance, Paid amount, Discount amount and Disputed amount between the local currency and alternate currency.
• Display Payment Detail Screen: you can toggle the Open item amount, Balance, Paid amount, Discount amount, Write-off/adjustment amount, and Balance remaining between the local currency and alternate currency.
The alternate currency amount and currency code display on the following reports and forms if the Use Alternate Currency Pricing (H89) system control value is set to Y.
Forms:
• Refund Check: if print program CSR0561 is defined in the Refund Check Print Program (D23), the system multiplies the local refund amount by the conversion rate in the Order Header Extended file and displays the refund amount in the alternate currency. If a conversion rate is not defined in the Order Header Extended file, the refund amount displays in the local currency. Also, if the Print Alpha $ Amount on Refund Check (E30) system control value is set to Y, the system prints an alphanumeric and numeric amount on the refund checks.
• Credit Card Credit Acknowledgment: the system multiplies the local credit card credit amount by the conversion rate in the Order Header Extended file and displays the credit card credit amount in the alternate currency. If a conversion rate is not defined in the Order Header Extended file, the credit card credit amount displays in the local currency.
• Drop ship pick slip: if print program FLR1067 is defined in the Drop Ship Pick Print Program (E92), the system multiplies the local amount by the conversion rate in the Order Header Extended file and displays the merchandise amount in the alternate currency. If a conversion rate is not defined in the Order Header Extended file, the merchandise amount displays in the local currency.
• Gift order acknowledgement: if print program FLR1067 is defined in the Gift Order Acknowledgement Print Program (B90), the system multiplies the local gift order amount by the conversion rate in the Order Header Extended file and displays the gift order amount in the alternate currency. If a conversion rate is not defined in the Order Header Extended file, the gift order amount displays in the local currency.
Reports:
• Refund Check Register: the refund check amount displays in the local currency and alternate currency. The currency code for the alternate refund amount also displays. If the refund check is for an order in the local currency, the alternate currency amount and currency code display blank. The final total displays in the local currency.
• Refund Writeoff Register: the refund writeoff amount displays in the local currency and alternate currency. The currency code for the alternate writeoff amount also displays. If the refund writeoff is for an order in the local currency, the alternate currency amount and currency code display blank. The final total displays in the local currency.
• Check Reconciliation List by Bank: you can run this report for a specific bank; the amounts display in the currency associated with the bank.
• Credit Card Credit Register: the credit card credit amount displays in the local currency and alternate currency. The currency code for the alternate credit card credit amount also displays. If the credit card credit is for an order in the local currency, the alternate currency amount and currency code display blank. The final total displays in the local currency.
• Coupon/Credit Register: the coupon/credit amount displays in the local currency and alternate currency. The currency code for the alternate coupon/credit amount also displays. If the coupon/credit refund is for an order in the local currency, the alternate currency amount and currency code display blank. The final total displays in the local currency.
• A/R (Accounts Receivable) Credit Register: the A/R credit amount displays in the local currency and alternate currency. The currency code for the alternate A/R credit amount also displays. If the A/R credit is for an order in the local currency, the alternate currency amount and currency code display blank. The final total displays in the local currency.
• Address Verification Response List: the authorization amount displays in the local currency and alternate currency. The currency code for the alternate authorization amount also displays. If the credit card authorization is for an order in the local currency, the alternate currency amount and currency code display blank.
• Credit Card Authorization Listing: the authorization amount displays in the local currency and alternate currency. The currency code for the alternate authorization amount also displays. If the credit card authorization is for an order in the local currency, the alternate currency amount and currency code display blank.
• Deposit Proof Listing By Pay Type: the transaction amount displays in the local currency and alternate currency. The currency code for the alternate transaction amount also displays. If the deposit transaction is for an order in the local currency, the alternate currency amount and currency code display blank.
• Unconfirmed Deposits Listing: the transaction amount displays in the local currency and alternate currency. The currency code for the alternate transaction amount also displays. If the deposit transaction is for an order in the local currency, the alternate currency amount and currency code display blank.
• Daily Cash Receipts Journal: the invoice amounts display in the local currency and alternate currency. If the invoice is for the local currency, the alternate currency amount does not display. An alternate currency total for each cash batch and each bank also displays.
• Sales Journal by Currency Report: allows you to review sales for a selected invoice date range and optionally, selected currency. The report page breaks and groups invoices by currency code, invoice date, payment plan, and pay type. The invoice amounts on this report display in the alternate currency. The invoice totals display on the report in the local currency and alternate currency. The grand total on this report displays in the local currency.
Alternate Currency Pricing Setup
Before you use alternate currency pricing, you must perform the necessary setup. Information requiring creation and setup includes:
System control values:
System Control Value |
Description |
Set this field to Y to indicate you wish to use alternate currency pricing. |
|
Set this field to N to indicate you are not using multiple currency by offer functionality. You cannot use both alternate currency pricing and multiple currency by offer. See Comparing Alternate Currency Pricing with Multiple Currency by Offer for a comparison. |
|
Define the currency code that represents the local currency code. Any other currency code represents an alternate (foreign) currency. |
|
Define the print program used to print credit card credit acknowledgments. The base print program is CSR0559. |
|
Define the print program used to print refund checks. Only print program CSR0561 prints the alternate currency amount. |
|
Enter the pick program used to send pick slip information to PkMS or another warehouse management system. Only the print programs IFR0046 and IFR0052 for PkMS version 19 send the alternate currency amount and currency code to PkMS. Only the print program IFR0080 for the Generic WMS Pick XML message sends the alternate currency amount and currency code. |
|
Define the price override reason code the system uses when the calculated local price on the order detail line differs from the local price defined in the offer associated with the source code on the order header. |
Menu options:
Menu Option |
Description |
Define the currency and indicate whether the currency uses decimals. |
|
Create a bank for the currency. |
|
Create a division for the currency, specifying the bank. |
|
Create a chart of accounts. |
|
Create each foreign pay type and related general ledger number. Define the authorization service and deposit service for the pay type. |
|
Create offers and indicate the currency code and conversion rate for each offer. If the offer is for the local currency, you can leave the currency code and conversion rate blank. |
|
Define the alternate price for each item/offer and SKU/offer. You can also enter an alternate price for item price breaks or SKU price breaks. You can also use these menu options to define the alternate price for each item/offer and SKU/offer: • Creating Item/SKU Offers (MISO) |
|
Create source codes for each offer. The offer and division must both point to the same currency. |
|
Define a pay type cross reference and currency cross reference for the authorization and settlement service. |
Comparing Alternate Currency Pricing with Multiple Currency by Offer
This table compares using alternate currency pricing against using multiple currency by offer. You can use this comparison to determine the type of foreign currency functionality you wish to use in CWDirect. You cannot use both alternate currency pricing and multiple currency by offer.
Alternate Currency Pricing allows you to... |
Multiple Currency by Offer allows you to... |
define the currency code for each bank. |
define the currency code for each bank. |
indicate whether the currency uses decimals. If the currency does not use decimals, the system rounds to the nearest whole unit of currency. |
define the shadow entity for the currency. The system makes a duplicate posting for each order-related transaction to the general ledger: one in your local currency, and one in the currency on the order. All currencies use decimals. |
define a currency code and conversion rate for each offer. |
define a currency code for each offer; the conversion rate for the offer defaults from the Currency file. |
define the item/offer and SKU/offer price in the foreign currency. The local amount also displays. |
define the item/offer and SKU/offer price in the foreign currency. A local amount does not display. |
store order amounts and totals in the local currency; however you can enter or review the amounts in the foreign currency. |
store order amounts and totals in the foreign currency; the system converts the order values to your local currency when you enter the order and when the order is billed. The currency of the order displays on the order header. |
store the currency code and conversion rate for the order in the Order Header Extended file. |
store the currency code and conversion rate for the order in the Order Header Extended file. |
send the foreign amount to Paymentech for authorization and settlement. The local amount is sent for any other service. |
send the foreign amount for authorization and settlement using any service. |
display the amount on the pick slip in the local currency. |
display the amount on the pick slip in the foreign currency. |
display the amounts on customer related reports in the local currency and alternate currency. |
display the amounts on customer related reports in the foreign currency. |
store invoice amounts in the local currency. |
store invoice amounts in the foreign currency. |
pay for open items in the foreign currency. |
pay for open items in the local currency. |
process refunds in the local currency. On refund reports, the refund amount displays in the local currency and alternate currency. |
process refunds in the foreign currency. On reports, the refund amount displays in the foreign currency. |
post to the general ledger in the local currency. A posting in the foreign currency does not occur. |
makes a duplicate posting for each order-related transaction to the general ledger: one in your local currency, and one in the currency on the order. |
| Working with Order Inquiry Reason Codes (WORC) | Contents | SCVs | Search | Glossary | Reports | Solutions | XML | Index | Working with Default Messages (WMSG) |
CS01_12 CWDirect 18.0.x 2018 OTN