Working with Currency (WCUR)

Purpose: Use the Currency table to define currencies and their conversion rates.

The system uses this information when:

•         you create purchase orders, to convert your currency rate to your vendor's currency rate

•         you receive against a purchase order, to convert your vendor's currency rate to your currency rate

•         you bill orders, if the Customer Sold To on the order is from a foreign country

•         you enter orders, bill orders, or process refunds, if you track multi-currency by offer

Note:             If you track currency conversion rates at the time of order billing in the Invoice Currency table, you must use the same code to identify a country and its currency. You must also have the Track Invoice Currency (D68) field in the System Control table selected. See Setting Up the Country Table (WCTY) for more information on country codes.

Multiple Currencies by Offer: You can accept orders in various currencies by defining the currency to be used for each offer. You must set the Multi Currency by Offer (E03) system control value to Y. Setting up multiple currencies by offer enables you to take orders in a foreign currency, but track demand in your local currency.

Default decimal separator and thousand separator for currency: The system uses the following values to determine the default decimal separator and thousand separator of Order Management System.

•         The DECIMAL_SEPARATOR property defines the character used to indicate the decimal place in a number.

•         The THOUSAND_SEPARATOR property defines the character used to separate groups of thousands.

The supported thousand and decimal separators are displayed below.

Default Thousand Separator

Default Decimal Separator

Results

, (comma)

. (period)

4,294,967,295.00

. (period)

, (comma)

4.294.967.295,00

See Regional Settings for an overview and see Setting the Default Decimal and Thousand Separator Formats for more information on how numbers display in different areas of the application.

In this topic:

•         Work with Currency Screen

•         Create Currency Screen

Work with Currency Screen

How to display this screen: Enter WCUR in the Fast path field at the top of any menu or select Work with Currency from a menu.

Field

Description

Code

A code that represents the currency.

Alphanumeric, 3 positions; optional.

Description

The description of the currency code.

Alphanumeric, 30 positions; optional.

Last update

The date that a conversion rate was most recently updated.

Numeric, 6 positions; optional.

Conversion rate

The rate at which this currency is converted to the local currency. Should be set to 1.00 for the Local Currency Code (A55).

Numeric, 13 positions with a 7-place decimal; display-only.

Screen Option

Procedure

Create currency codes

Select Create to advance to the Create Currency Screen.

Change currency information

Select Change for a currency code to advance to the Change Currency screen. At this screen you can change any information except the currency code. See Create Currency Screen for field descriptions.

Delete currency information

Select Delete for a currency code to delete it.

Display currency information

Select Display for a currency code to advance to the Display Currency screen. You cannot update any information on this screen. See Create Currency Screen for field descriptions.

Create Currency Screen

Purpose: Use this screen to create a currency code.

How to display this screen: At the Work with Currency Screen, select Create.

Field

Description

Currency code

A code that represents a type of currency.

Alphanumeric, 3 positions.

Create screen: required.

Change screen: display-only.

Description      

The description of the currency code.

Alphanumeric, 30 positions; required.

Date of last update

The most recent date on which the conversion rate was updated.

Note:  The system does not update this field.

Numeric, 6 positions (in user date format); required.

Conversion rate

The rate at which this currency is converted to the local currency in purchase order maintenance and receipts. The system divides the amount in the foreign currency by the conversion rate to determine the amount in your local currency; for example, if you set the conversion rate for Canadian dollars at 1.3, the system would convert $10.00 to $7.69 in your local currency, dividing 10 by 1.3.

Should be set to 1.00 for the Local Currency Code (A55).

Currency conversion settings for purchase order maintenance and receiving are defined in the Vendor table. See Working with Vendors (WVEN) for more information.

Note:  This field does not support a number with more than four positions in front of the decimal point; otherwise, your entry will be truncated. For example, if you enter 12345.1234567, it will be truncated to 2345.1234567.

Numeric, 13 positions with a 7-place decimal; required.

Shadow entity

This field displays only if the Multi Currency by Offer (E03) system control value is selected; it is required for all currencies except your local currency, as defined in the Local Currency Code (A55) field in the System Control table.

Entity codes are defined in and validated against the Entity table; see Working with Entities (WENT).

Numeric, 3 positions; required.

 

________________________________