Price at current rate

If you work with foreign currencies, you can have prices converted at fixed exchange rates, and/or have them calculated at current rates.

Description

You can have your prices in your base currency converted into a foreign currency. As default in invoicing, prices in the base currency are converted to the foreign currency against the specified exchange rate. You can however also specify that you want to calculate the prices at the current rate. The invoice amount is then also converted back into Euros. This is as information for your creditor/debtor and for the entry in Profit Financieel.

For receipt lines in foreign currencies, the price per unit in the basic currency is always used.

When the goods receipt is entered, the price per unit in the foreign currency is immediately converted to the basic currency. This is done using the exchange rate that is valid on the date of the goods receipt.

The exchange rate used when entering receipts depends on the Use current rates setting. If the check box for this setting has been selected, then the current rate for that date is used (currency properties, Current rates tab). If the check box for this setting has not been selected, then the 'normal' exchange rate is used (currency properties, General tab).

Procedure

• Set price at current rate

  You can have your prices in your base currency converted into a foreign currency. As default in invoicing, prices in the base currency are converted to the foreign currency against the specified exchange rate. You can specify that you want to calculate prices using the current rate.

• Add currency

  You can add the currencies that are still missing in the currency table supplied, with a code and default rate.

• Add current rates

  You record the currency history per Currency so that, during entry, Profit can determine the correct exchange rate for the voucher date.