Setting Up Currency Conversion

Access the General Accounting Constants form.

Multi-Currency Conversion (Y, N, Z)

Select a code that specifies whether to use multi-currency accounting, and the method of multi-currency accounting to use:

Codes are:

N Do not use multi-currency accounting. Use this option if you enter transactions in only one currency for all companies. The multi-currency fields do not appear on forms. The system supplies a value of N if you do not enter a value.

Y Activate multi-currency accounting and use multipliers to convert currency. The system multiplies the foreign amount by the exchange rate to calculate the domestic amount.

Z Activate multi-currency accounting and use divisors to convert currency. The system divides the foreign amount by the exchange rate to calculate the domestic amount.