The Euro Conversion tool converts all amounts in MAPICS at the SAME exchange rate. If your goal is reporting in USD at HISTORICAL rates, then you will need a way to identify historical rate transactions and override the Euro Conversion. Once you start to override, you need to make sure that overridden summary files (e.g. ledger balances) agree with overridden supporting details. Before you make this conversion, you need to be sure that you will still be able to comply with Singapore's local reporting requirements. Most governments insist on tax compliance reports etc be in THEIR currency--not USD. They also insist on auditing in THEIR currency. MAPICS tax compliance reporting assumes that the local currency is the one used for reporting. If you switch to USD, then you have to redo the reports so they show Singapore $. If you ONLY do business in Singapore $ and USD the IFM, COM, and PUR files have the data that you need in their transaction currency fields. If you do business in other currencies, then your reports have to convert the USD amounts to Singapore $ at the appropriate exchange rate. 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: "Selvaraj Pillai" <selvaraj.pillai@xxxxxxxxxxx> To: <mapics-l@xxxxxxxxxxxx> Sent: Friday, April 16, 2004 2:44 AM Subject: IFM Financial Division Currency > Hello, > > We are in the thinking of changing our functional currency from Singapore > $ to US $. I knew that it is going to be huge amount of work involved in > each of the MAPICS modules where we have kept the amount in local > currency. Financial division reporting currency also need to be changed to > US$. Is there anyone from the MAPICS user group has performed such a > project?. If so, please share your experience. > > Regards, > > S.P. Selvaraj > Senior I.T. Specialist, Asia Pacific > Pemstar Singapore Pte Ltd > Tel. Dir (65) 6586 8009, Cell (65) 9653 4048, IP Phone 4368 > > _______________________________________________ > 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. > >
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