Currency Rate 汇率设置

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Read further if ...
your company is billing your customer in foreign currency or your overseas suppliers are billing your company their currency,

Assuming If your company is reporting in SGD,

For presentation of your sales report, you cannot report having sales in SGD 1,000,000 and MYR1,000,000 , instead you need to convert your MYR1,000,000 into SGD to sum up all sales in SGD.

That is when the exchange rate is required to convert it all foreign currency into SGD

Before the start of a new month, you may want to set the relevant exchange rate of each currency to be used in the month.

: Currency rate setting


To set Exchange Rate of Foreign currency against reporting currency  


At [Setup], click [Currency Rate]



There are some preset currency code in the system.


For illustration purpose, set the MYR exchange rate, click on [MYR] tab




 Follow the steps in [1] to [6]



Repeat the same for other currency rate , click on [USD] tab


Exchange rate for  Opening balance (brought forward transactions of customers, suppliers and general ledgers)...Read more..

Click here... Opening balance currency rate setting
In the financial period setting, assuming your last Financial period [0] is ending 31st March 2020



You have transactions dated way back year 2004 remain outstanding,

Set the date range from 1/1/2004 to 31st March 2020 as shown in [4] for the various currency codes





Note: System does not allow overlapping date for same currency. A message will be displayed if you accidentally do so.




Feature update : 12/05/2020


Click [Paste to exchange rate] if your Feb 2020 is the same as last month currency exchange rate





Impact of changing currency rate setting or deleting setting.

Example during the middle of the month of Jan 2009, you wish to change the USD rate for the month of Jan 2009 to 1.38 instead of earlier setting of 1.40 and there are already USD entries or transactions that had been posted at 1.40. System will not change the rate of all posted entries during the month of Jan 2001 to 1.404.  The changing will only affect subsequent USD transactions in the month of Jan 2009.


Deleting the rate setting record will have no impact on earlier posted entries.



Month end currency rate affecting unrealised Gain / Loss calculation.

You can revalue your customers, suppliers and General Ledgers that are transacting in foreign currencies by letting the system to auto-generate unrealised exchange gain/loss in the customers’ and suppliers’ subsidiary ledgers and the General Ledgers. System picked the exchange rate from the currency rate setting table based on the date selected by you.

Go to A/c Entry tab, select Revalue Accounts icon.



Note: Each exchange rate in the table remains as entered or as edited from time to time.

          At transactional level, you may override this rate with the actual rate but will not update the table rate.
Next, go to Getting Started, Topic 5 : Reference number setting
                                or     Back to Getting Started






Related Topics

Revalue Account .


Aging - Supplier by month end rate or transaction rate


Aging - Customer by month end rate or transaction rate


Monthly procedures to set currency rate against base currency


FAQ : Currency rate not found



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