Re: Local Currency Support

["Bob Tenney" <bobtenney@xxxxxxxxxxxxx>]

Jack, MAPICS lets you do business in multiple currencies in the same
environment. It does not let you have more than one BASE currency in the
same environment. For example, in one environment you can sell to customers
and buy from vendors in any number of currencies. You cannot have one
company use US Dollars and another company use Mexican Pesos in the same
environment.

The reason for this restriction is the manufacturing applications--not the
financial applications. These applications do not support separate companies
or separate currencies. This means that you cannot have costs that are
denominated in multiple currencies without running the risk of adding 100
USD + 100 Pesos and getting 200 ??? as the result. If this happened, to a
component item the 200 ??? amount could ripple through many of your costs.

So, what can you do about this problem?

(1) The safest thing to do is to have separate environments for each base
currency. At the end of the month you can transfer the general ledger
balances to the environment that you use for consolidation. This works
because IFM is designed to have multiple base currencies.

(2) You can add safeguards to prevent currency mixing. You have to define a
base currency for your standard costs and a base currency  for each of your
warehouses. When IM transactions and backflushed labor and overhead involve
warehouses that do not use the standard cost base currency, then you have to
convert amounts from the standard cost currency to the warehouse's currency.
This is not as difficult as it sounds. I am aware of only two places where
you would need to do this conversion: (a) Inventory transaction processing;
and (b) The routines that handle labor and overhead calculations. (There may
be others).


Bob Tenney
Bob Tenney Solutions, LLC
MAPICS - FRx - Presence - Crystal Reports
828-526-8976

Visit www.tenneypubs.com for books about
IFM, COM, G/L Interfaces
Info WorkPlace, Cost Accounting,
FRx, and PRESENCE
----- Original Message -----
From: <jack.roughgarden@xxxxxxxxxx>
To: "MAPICS ERP System Discussion" <mapics-l@xxxxxxxxxxxx>
Sent: Monday, June 02, 2003 5:01 PM
Subject: Local Currency Support


>
> We need to support multiple local currencies within the same environment.
> The currencies need to be at the warehouse level. Applications installed
> are
> COM, CSM, PUR, IFM and Procurement Management.
>
>  We have a few ideas but are interested in others out there.
>
> Thanks in advance.
>
>
>
>
>
>
>
> _______________________________________________
> This is the MAPICS ERP System Discussion (MAPICS-L) mailing list
> To post a message email: MAPICS-L@xxxxxxxxxxxx
> To subscribe, unsubscribe, or change list options,
> visit: http://lists.midrange.com/mailman/listinfo/mapics-l
> or email: MAPICS-L-request@xxxxxxxxxxxx
> Before posting, please take a moment to review the archives
> at http://archive.midrange.com/mapics-l.
>
>