Alternate Currency Module

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16.12.1 Overview

pc/MRP's Alternate Currency module allows users to maintain an alternate currency database file and print out/store purchase orders, receivers, sales orders, invoices, debit memos, credit memos totals in the base currency and alternate currency. In addition it will also allow purchase requests, purchase quotes and sales quotes to be printed out and stored with the base and an alternate currency if these optional modules are activated.

16.12.2 Activating pc/MRP's Alternate Currency Module

pc/MRP's Alternate Currency module can be activated by the phone by contacting Software Arts at 408-226-7321 and obtaining the activation code number for this module. Once you have obtained the activation code number, click on the Configuration Option in pc/MRP's top menu bar, selection Module Activation, and enter the activation code number when prompted.

16.12.3 Entering, Editing, Deleting Alternate Currencies

Selection of Alternate Currency from the Optional menu will present the dialog box shown below. This window allows the creation of new currency exchange rates, the alteration of existing currency exchange rates or the deletion of currencies that are no longer required.

The currency list will display all the currencies along with the current exchange rate and the new exchange rate. The new exchange rate for the highlighted currency is entered below the list.

A new currency can be added to the database by pressing the New Currency button.

The highlighted currency can be deleted from the database by pressing the Delete Currency button. The user will be asked to confirm that deletion of the currency is desired.

The vendor price fields will be updated for each part in the inventory that is set to track the costs based on the vendor's currency instead of the base currency. The vendor price fields will not be updated if the Update Vendor Prices box in the alternate currency module is un-checked. (Logically there are only a few reasons why this check box would not be checked. Under most circumstances you will want the prices updated, thus you will want the Update Vendor Prices checked.)

Alternate Currency Screen
Alternate Currency Screen

The alternate currency rate is the amount of alternate currency required to purchase one unit of your base currency. For example, if your base currency is U.S. dollars and it takes 1.25 Canadian dollars to purchase one U.S. dollar, the alternate currency rate for Canadian dollars would be 1.2500.

16.12.3 Adding an Alternate Currency to a PO, Invoice, etc.

An alternate currency can be added to (and edited on) purchase orders, sales orders, invoices, etc. by selecting the desired currency from the Document Currency list box located on the respective data entry screen. The data entry screen also has a Displayed currency list box which allows the user to convert the displayed costs/prices into any of the tracked currencies without actually changing the document currency. Once an alternate currency has been added to a document, the total amount due will print out in your base currency as well as the alternate currency. The currency and it's respective ratio at the time it was entered will be stored with that document's record. If you print out the document at a later date, the currency ratio will be the ratio you originally entered and not the current currency ratio.

16.12.4 Alternate Currency and the Inventory.

The Alternate currency drop down list box on the first page of the inventory screen allows you to display the costs in the currency selected. The costs being displayed are based on the alternate currency rate * cost stored in the base currency.

The purchase price screen contains two drop down alternate currency list boxes (Displayed Currency and Vendor Currency).

The "Displayed Currency" drop down list box controls what currency all of the vendor prices are displayed in. The Displayed Currency list box will default to the currency currently being displayed on the main inventory screen.

The "Vendor Currency" list boxes store the currency the price is based on for each vendor. This allows you to change an alternate currency's rate and if you check the Update Prices check box, pc/MRP will go into the inventory and adjust your base currency costs of all items whose price is based on the alternate currency (your base currency price will be adjusted but the alternate currency price will remain the same).

Example 1 If a vendor from another country keeps his price the same but the currency rate changes and you select update costs/prices when recording the change, the alternate currency price will not change. But the base currency price will change for all parts based on that currency.

Example 2 If a vendor from another country changes his price and the price of the part is based on his currency, you would edit the part number, select purchase prices, (the vendor currency should be set to his currency), set display currency to his currency and change the price. When you set the displayed price to your base currency, your new price in your currency will be displayed.

Example 3, If you have vendors submitting bids based on different alternate currencies, setting displayed currency to the base currency will show the equivalent prices in your base currency.