5.1 Process Currency Maintenance Detail

This topic provides the systematic instructions to set up the currencies in the system.

The different currencies that will be in use in the processing of transactions must be uniquely identified in the system and a profile maintained for each.

1. On Home screen, type UTDCURMA in the text box, and click Next.
   The Currency Maintenance Detail screen is displayed.

   Figure 5-1 Currency Maintenance Detail

   
   

   
   Description of "Figure 5-1 Currency Maintenance Detail"

   
   
2. You can maintain a profile for each currency that includes the following details.
   • The Currency Type. There are three types of currencies that you can maintain, and these are enumerated below in the discussion for the Currency Type field in this screen.
   • The currency separators
   • The fixed conversion rate for In currencies
   • The number of decimals for the currency
   • The round-off/ truncate setup for the currency
   • The amount formats
   • The validity period for In currencies
3. You must maintain the currency Euro with a profile of its own in the maintenance screen.
   After the Euro Currency has been defined and set up, no other currency can be designated to be of currency type Euro, which means that only one currency can be set up as a Euro Currency in the system.
4. On Currency Maintenance Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 5-1 Currency Maintenance Detail - Field Description

   Field	Description
   Currency Information	The section displays the following fields.
   Currency Code	Alphanumeric; 3 Characters; Mandatory Specify a unique 3-character code for the currency that is being maintained in this record.
   Currency Name	Alphanumeric; 35 Characters; Mandatory Specify a unique name for the currency that is being maintained in this record.
   Currency Details	The section displays the following fields.
   Number of Decimals	Mandatory Select the number of decimals to be displayed and considered in the amount formats for the currency from the drop-down list. The list displays the following values: 0 1 2 3 This value is used by the system to determine the relationship between the Higher and Lower Currencies. For example, let us suppose that the number of decimals specified is 2. This would mean that 100 units of the Lower Currency must be considered as equivalent to one unit of the Higher Currency. Similarly, if the number of decimals specified is 3, 1000 units of the Lower Currency must be considered as equivalent to one unit of the Higher Currency.
   Amount Format	Mandatory Select the format in which amounts in this currency must appear either Millions or Crores.
   Round-Off/Truncate	Mandatory Indicate whether the currency format is to be rounded off or truncated.
   Currency Type	Mandatory Select the type of currency that is being maintained in this record from the drop-down list. This could be any of the following 3 types: Out Currency: Select this option to maintain a currency that will be not subsumed into the Euro Currency and will always have an exchange rate against the Euro. Therefore, no validity periods or fixed conversion rates will need to be captured for this currency, and none of the restrictions that apply to In currencies will be applicable. Once a currency is designated as an Out Currency, it can later be designated as an In Currency on editing its record profile in this screen. In Currency: Select this option to maintain a currency that will be subsumed by the Euro Currency as a matter of course. For such currencies, the validity period must be captured, as well as the fixed conversion rate against the Euro. Once a currency is designated to be an In Currency, it cannot later be designated to be an Out Currency. Euro Currency: Select this option to maintain the Euro Currency in this screen. This is typically an initial setup that will not be changed later on. Once the Euro Currency is maintained by choosing this option, it is disabled and no other currency can be designated as Euro Currency.
   Conversion Rate	Numeric; 6 Characters; Optional Specify the fixed conversion rate that will apply for this currency against the Euro Currency. This will be used in processing transactions that will use this currency.
   Currency Higher	Alphanumeric; 15 Characters; Mandatory Specify the actual currency for example the US Dollar
   Currency Lower	Alphanumeric; 15 Characters; Optional Express the currency specified above in its lower denomination for example Cents if the higher currency is USD.
   Currency Separator	Alphanumeric; 15 Characters; Optional You can maintain the separator details for the currencies. The Currency Higher must be specified because it is mandatory, but if the number of decimals has been specified as zero, the Currency Lower and the Currency Separator details need not be specified.
   Validity From and To Dates	Date Format; Conditional Mandatory Specify the date range that represents the validity period for this In Currency. During this validity period, the currency will be used as a physical currency, but the conversion rates will apply. At the end of this period, this currency will cease to exist and will be subsumed by the Euro Currency. These dates may be altered on editing the record. The Validity From Date must not be earlier than application date of the system. The Validity To Date is defaulted to a date 3 years later than the specified Validity From Date. This can be altered, but it must always be later than the Validity From Date, and must not be earlier than the application date of the system.

5. Click Multi Language Details button to access the Multi Language Details screen.
   The system displays the following values:

   • Currency code
   • Currency Name
   • Language Code
   • Language Name

Refer topic Maintaining Reference Information in FCIS system for information about Multiple language support.