Setup

To create records for the currencies you'll use

Please note that this task requires that Multicurrency be set up. (To set up Multicurrency)

The Currency List window should be displayed.

  1. Click New.


  2. In the Currency Code field, enter a three-letter code to describe the currency you're adding. We recommend that you use codes you'll find easy to remember in the future.


  3. Enter the currency's name ("Costa Rican colones," for example) and its current exchange rate. Keep in mind that your entry here should reflect the amount that one unit of this currency - one colón, for example - will buy, and the number of colones one unit of your local currency will buy. Verify these quantities in the fields to the right of the exchange rate.


  4. Indicate how you want amounts in this currency to be displayed. The Positive Amount and Negative Amount fields show examples of how currency amounts will be displayed, based on the selections you're making.


  5. Click the Receivable Accounts tab and Payables Accounts tabs to link this currency to the receivable and payable accounts for this currency. [To link an account (foreign currency)]


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