Hello, We are on BPCS 8.2.01 Our global currency is setup as EUR. We have 4 companies defined, 3 of them with base currency EUR and 1 with GBP. Costing is setup in the global currency EUR We are no integrating a new company, for which we would like to setup the costing in local GBP. I found an old thread in the BPCS midrange forum covering this issue. It should be possible to enter costs for a facility as though they are in local currency ....... Set up a 'fake' global currency, create some additional rate tables and switch on facility based costing. The thread is created in 2000. Is anyone using or have experience with this specific setup for costing ? Kind regards, Peter Heeren ++++++++++++++++++++++ BPCS Midrange Thread - Re: Multiple currencies in Inventory (25 Aug 2005) 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.
As an Amazon Associate we earn from qualifying purchases.
Operating expenses for this site are earned using the Amazon Associate program and Google Adsense.