Using Multicurrency Accounting in Inventory Control

You use multicurrency accounting if you want to process receipt transactions and shipment transactions, maintain price lists, and fill orders (using Sage ERP Accpac Order Entry) in more than one currency.

To create a multicurrency Inventory Control system, you:

1. Turn on the Multicurrency option for the company and select a default rate type in the Company Profile of Common Services.

2. Use the Common Services Currency forms to add any currency codes you need for Inventory Control, and enter exchange rates for the currencies you use.

When you install Sage ERP Accpac, you also install a large set of currency codes that use standard international abbreviations and the format and number of decimal places that are normally used with each currency. You probably will not need to define new codes unless you do not use the international codes.

3. Select the Multicurrency option in the Options form in Inventory Control to turn on multicurrency accounting for your Inventory Control system.

You can select the Multicurrency option at any time; but once you save the Options form with the option selected, you cannot change back to single-currency accounting.

4. Use the Item Pricing form and Copy Item Pricing form to add item prices for every currency in which you sell each item.

You do not need to enter multicurrency totals for Inventory Control sales statistics, because the program keeps these statistics in the functional currency.

See also

Steps for setting up Inventory Control