Currency Transformation Terms

12.4. Currency Transformation Terms

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Currency Transformation
Terms icon When you click the Currency Transformation Terms icon, you see the Currency Transformation Terms window where you can define original booking currencies for payments and accounting.

The terms you define here are seen on the Currency tab of the Administration Conditions window. (Refer to Administration Conditions in the Business Conditions Handling chapter of the SICS User’s Guide for more information on this window.)

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The Currency Transformation Terms window lets you create and define terms for exchanging currencies.

You see the name of the term at the top of the window. When you click an item in the list and click the right mouse button, you can select Edit to make changes to the term, or Copy to make a copy of it.

Create New Currency Term #

To create a new term, select New from the pop-up menu. You see the New Currency Term window where you can type in the name of the new term.

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Define Currency Terms #

After you create a currency term, you must then define it. To do so, click the Definition of Terms display list and select New. You see the New Currency Term Detail window. You can specify currencies to be converted, and what they can be converted to, for all three columns in the Definition of Term display list. The columns are:

  1. From Original currency To Booking currency
  2. Booking, Account and Currency Type
  3. Account and Payment Currency. You see the same New Currency Detail window when you select New in each one of these columns.

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Example of Definitions for a Currency Term #

If you do not want a currency to be converted, do not select it in the From Currency drop-down list. There is, however, one instance when you need to specify the currency that you do not want to be converted. That is when you leave the From Currency blank and select a currency such as, for example, GBP from the To Currency list. This indicates that all currencies are to be converted to GBP. If you want to exclude a currency from being converted, such as, for example, DEM, you can do so by selecting DEM in both the From and To lists. Now, all currencies except DEM can be converted into GBP.