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Currencies

Distributor steps for adding a currency in Encompass so foreign-currency purchases and bills get exchange rates set automatically, plus the product used to post exchange gains/losses. Requires v22.01+.

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Written by Bailey Naas-Thornton

Minimum Version Required: 22.01

Steps

How to Add Currencies
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1. Using Universal Search, navigate to the Currencies table.
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​ Note: This table shows the currencies, including the currency code used to automatically set the exchange rate on any purchase or bill entered.
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2. Click the Add Currencies button.
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3. Enter values to all required and applicable optional fields displayed in the Add Currencies form.
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4. Click the Add Record button when complete.

Fields And Definitions

  • Companies.ExchangeRateProduct: This is the product used to write off exchange rate gains/losses. Setting that product on the company record, and then mapping that product tells the system what GL account to put the gain/loss to.

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