Add and Edit Currencies

Add and Edit Currencies

Anchor: Add and Edit Currencies

Add and Edit Currencies allow users to Add an ISO currency code to the system.

• Currency Abbreviation: This is the ISO currency code such as SGD for Singapore Dollar, USD for US Dollar, TWD for Taiwan Dollar, CNY for Chinese Yuan, MYR for Malaysia Ringgit and so on.
• Currency Symbol: This can be $, RM, US$, ¥.
• Currency Name: A short description of the currency name. For example, US Dollar
• Hundredths Name: This is like cents
• Country: The name of the country.
• Automatic exchange rate update: Note: If this is checked, the system will automatically update the exchange rate table immediately when the rate is retrieved from the Internet successfully. The default source is Monetary Authority of Singapore (MAS). The exchange rate table can be manually updated as necessary.

Note1: When preparing the sales or purchase transactions, if the exchange rate of the date is available, this exchange rate cannot be edited in the form. User can request for changing the policy (tech reference: $exch_rate_editable_in_trans) but this can be changed only once. Please quote the tech reference when request for change.

Note2: When preparing the sales or purchase transactions, if the exchange rate is unavailable from MAS, the system will give a warning "No exchange rate for currency XXD in exchange rate table. Please adjust approximate rate if needed.". The exchange rate of the nearest date in the exchange rate table will be retrieved and populated. User can amend it as necessary before the sales or purchase documents are saved.