Configure currencies

You configure this functionality if you want to work with foreign currencies, for example because you do business with international companies.

Description

If you add a new environment, you must also select the default currency for the environment. Once you have done this, you cannot change it later.

If you want to create an environment with another base currency than the environments you already have, you must create a 'separate' environment.

• If you work with AFAS Online, you can submit an incident to Support for this purpose.
• If you work locally, you can add a new, extra environment. When you open the environment for the first time, you can set the base currency. In that situation, you can select the default currency for the environment.

Any other currencies you use you have to add yourself. You can also add the current rates for these currencies yourself. When you enter an order, the voucher date is used to determine the applicable current rate.

You can revalue currencies against current rates that are no more than a year old.

For each domestic and international debtor and creditor, you determine which currencies are allowed. You then configure the various purchase and sales journals. In Profit, you can manage these links centrally.

You can also use bank account numbers in foreign currencies. You have to configure and link these yourself.

Procedure

• Record the administration settings
• Add a currency
• Change the number of decimals for a price in a currency
• Add international debtors and creditors
• Add international bank account numbers and journals
• Manage currency links centrally
• Add current rates
• Revalue a currency
• Post a financial entry in a currency

Also see

• Price at the current rate in Order Management
• Automatic international payments