About Foreign Currency Codes
Prerequisites for Foreign Currency Codes.
Use Foreign Currency Codes to define and manage exchange rates for foreign currencies bought and sold at your property. When the Ability to Quote Rates in Foreign Currencies OPERA Control is active, you can configure rate code (pricing) and package pricing in foreign currency amounts; converted to your property currency according to the exchange rate on the day of posting.
When setting up foreign currencies, follow these steps:
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Create currency codes representing the various foreign currencies bought and sold.
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Set actual exchange rates for the codes created in step 1.
Each currency code can have up to seven different exchange rates based on various exchange types (purposes). The following exchange types are available:
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Exchange Cash
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Exchange Check
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Settlement (payment)
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Posting (charges)
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(Agent) Commission
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Membership
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Certificate
Each currency code and exchange type combination can have its own exchange rate and start date. For example, for each currency, you could define one exchange rate for posting accommodation, another exchange rate for settlements, and another exchange rate for cash exchanges. Then, you could update the accommodations posting rate monthly and update the settlement and cash exchange rates daily.
OPERA Cloud accommodates both buying foreign currency (the usual transaction where the guest exchanges foreign currency for local currency) and selling foreign currency (exchanging local currency for foreign currency). When you configure currency codes, you can indicate whether selling that currency is supported.