Enter Currency Code

Explanation

Use this activity to enter, change, and view information about the currency codes used in a company. This mandatory task is to be performed by a system administrator or equivalent person.

Prerequisites

This activity has the following prerequisites:

• The company must exist in IFS Financials.
• The currency codes used in a company must be selected in the ISO Code Usage window in IFS/Application Services.

System Effects

As a result of this activity:

• A currency rate can be specified for the currency code. 
• The currency code can be included in a currency rate type. 
• Currency codes are evident throughout the application where currencies are used, e.g., supplier invoice entry.

Window

Currency Codes

Related Window Descriptions

Currency Codes

Procedure

To perform this activity, follow these steps:

1. Open the Currency Codes window.
2. Query for the existing currency codes.
3. Create a new record.
4. In the Currency Code field, select the ISO currency code from the List of Values.
5. In the Conversion Factor field, enter the currency's conversion factor, i.e., number of foreign currency units for which you want to enter an exchange rate. 
6. In the No of Decimals in Amount list, click the number of decimal points used when the currency amount is entered or displayed.
7. In the No of Decimals in Rate field, enter the number of decimals used when the exchange rate is entered or displayed.
8. In the Valid as EMU Currency From Date field, enter the date when the EMU currency becomes valid.
9. To use the currency as a parallel accounting currency and for inverted quotations, select the Inverted Quotation When Reference Currency check box.
10. Save the changes.