× The internal search function is temporarily non-functional. The current search engine is no longer viable and we are researching alternatives.
As a stop gap measure, we are using Google's custom search engine service.
If you know of an easy to use, open source, search engine ... please contact support@midrange.com.


  • Subject: Re: Multiple currencies in Inventory
  • From: BPCSConsultant@xxxxxxx
  • Date: Fri, 25 Aug 2000 10:16:30 EDT

Greetings,

One solution to the need for currency on the cost master is called the 
"logical currency" setup.  This is not a modification to the system, but 
rather a specific setup which allows you to enter costs as though they were 
in local currencies.

Basic design of the setup is as follows:

A fake - or "logical" - currency is setup to act as the global currency.  For 
example we'll call it 'AAA' - 'Global Currency'.

At least one company must be setup for each local currency in which you wish 
to manufacture or hold inventory.  You do not have to setup a company just 
because you wish to transact in a specific currency.

Here's the confusing part...  Unique exchange rate tables are created for 
each local currency in which you wish to manufacture or hold inventory.  This 
exchange rate table is used on the company master as the table used to 
exchange transactions to base currency.  In each table the logical currency 
is set with an exchange rate of 1 to the local currency of that specific 
company.  For example, there are two companies operating in US and Canada.  
We'll call them 1 and 2 respectively and their currencies are USD and CAD 
respectively.  We will create two rate tables, AAUSD and AACAD to represent 
the spot rate table for company 1 and 2 respectively.  Within AAUSD the 
exchange from AAA to USD is 1, likewise in the AACAD the rates from AAA to 
CAD is 1.  Also when setting up the exchange rates in each of the tables you 
will setup rates from AAA to all other currencies in AAUSD table as though 
AAA was USD and in AACAD accordingly.

Facility specific costing must be turned on.  Following the company setup, 
you will then have facilities which can contain costs in local currencies.  
You will in fact enter the costs in these facilities as though they were in 
local currencies for that facility.

Since this is such a sweeping setup change, you should fully test it in your 
environment to ensure you do not have anything which may be affected by it.

Confusing as it may sound, I know this works, as I am a "now independent 
former SSA" financial consultant and have set it up on several occassions for 
clients who did not want to modify the system.
+---
| This is the BPCS Users Mailing List!
| To submit a new message, send your mail to BPCS-L@midrange.com.
| To subscribe to this list send email to BPCS-L-SUB@midrange.com.
| To unsubscribe from this list send email to BPCS-L-UNSUB@midrange.com.
| Questions should be directed to the list owner: dasmussen@aol.com
+---

As an Amazon Associate we earn from qualifying purchases.

This thread ...


Follow On AppleNews
Return to Archive home page | Return to MIDRANGE.COM home page

This mailing list archive is Copyright 1997-2024 by midrange.com and David Gibbs as a compilation work. Use of the archive is restricted to research of a business or technical nature. Any other uses are prohibited. Full details are available on our policy page. If you have questions about this, please contact [javascript protected email address].

Operating expenses for this site are earned using the Amazon Associate program and Google Adsense.