Inform ERP can support multiple currency codes and conversions for your dealings with international vendors. You can search the internet for valid Currency Codes and Exchange Rates, for example, Currency Codes ISO.
Add the currency codes you want to support, and then choose the correct currency for your international vendors on the General page of File>Vendor>Master. See Configure vendor's default preferences
Important
If you plan to use Inform ERP's currency conversions, you must contact DDI Customer Care to complete setup.
To add a currency code:
- Go to File>Company>Currency.
- Click New.
- In the Currency box, type the three letter currency code, and t hen press the Tab key. For example, CAD.
- In the Description box, type the longer description of the currency, for example Canadian Dollar.
- In the Currency Rate box, type the current exchange rate with US Dollars. For example, 1.30.
- Click Save.
When you assign this currency code to a vendor, you will work with this vendor as follows:
- PO net price is displayed in foreign currency (but we display a column for local currency).
- PO prints in foreign currency.
- Stock receive in foreign currency.
- AP invoice in foreign currency (there is a toggle drop down to show you local currency).
- Cut the check in foreign currency.
- View the General ledger in local currency.