ACCT EXCHG (Exchange) Control Maintenance Records

The following control maintenance records belong to the EXCHG (Exchange) area within the ACCT (Accounting) category.

Base Currency For Exchange Rates

Specify the base currency to use in foreign exchange calculations.

Valid Foreign Currencies

Specify the currencies to use in foreign exchange transactions. Specify currencies in forms such as US$, Can$ and Pesos, using up to 6-character names, and enter the associated country for each. Completing the Country column ensures that A/R entries remain valid for foreign exchange entries.

Once valid currencies are defined, you can establish a base currency for your company using the Base Currency For Exchange Ratescontrol maintenance record, and then create a table of exchange rates for each foreign currency in Exchange Rate Maintenance.