Currency Information—Exercises

IMPORTANT
It is extremely important that you set up and work within your own company to maintain your data integrity. If you work within any other company, your exercises will not function as intended and the data of other students might be affected. Predictable exercise results require that your data is isolated in your own company.

Main Exercises


Define Currencies

Purpose: The purpose of this exercise is to show you how to set up currencies used in the Application.

Windows:
ISO Code Usage

  1. Open the ISO Code Usagewindow, Currency tab, and populate it (F2).
  2. Select the Used in Application check box for the following currencies:
  3. Save your changes (F12).


Currency Codes

Purpose: The purpose of this exercise is to show you how to connect the currencies defined above to your company.

Windows:
Currency Codes

  1. Open the Currency Codes window, and populate it (F2).
  2. Make sure that you have entered the following currencies:
  3. Save your changes (F12).


Currency Rates

Purpose: The purpose of this exercise is to show you how to add currency rates. These rates are the cross rates between the accounting currency (your currency) and the currency used when making a financial transaction.

Windows:
Currency Rates

  1. Open the Currency Rates window, and query (F3) for Currency Rate Type 1.
  2. Specify rates for the following currencies:


Currency Rate Types

Purpose: The purpose of this exercise is to show you how to define a new rate type to use when buying currency. Currency rate types are sometimes used for splitting currency rates into buy and sell rates.

Windows:
Currency Rate Types

  1. Open the Currency Rate Types window, and create a new record (F5).
  2. Enter your new currency rate type using the information shown in the table below.
Currency Rate Type Currency Rate Type Description Ref Currency Code Default Type Currency Rate Type Category
BUY Rates when buying currency Enter your accounting currency No Normal
  1. Save your changes (F12).
  2. Right-click and then click Currency Rate per Currency Rate Type. Specify the rates for the new currency type that you just entered. 
  3. Save your changes (F12).