Currency Information Window

 

This window appears when you do one of the following, if the cash book and base currency are the same:

§   Press <F1> at the 'Confirmed' prompt in the Transaction Details Window.

§   Press <Return> in the Amend Currency for Cash Book Window.

§   Enter a foreign currency transaction whose currency information has not been confirmed in the Presented Transactions Window in Bank Reconciliation.

§   Press <Return> on a foreign currency transaction in the Presented Transactions Window in Bank Reconciliation.

§   Press <F1> on a foreign currency transaction in one of the transaction enquiry windows.

 

This window also appears when you do one of the following:

§   Select an option from the Currency Menu or the Transfer Currency Menu.

§   Press <F1> at the 'Base' or 'Book' prompt in the Dissection Analysis Window.

Purpose

This window provides detailed information about how the value in entry currency is converted into cash book currency or base currency, or to both if they are the same. Which currency conversion is shown (whether to cash book or base currency or both) is determined by how you invoked the window, and is indicated in the lower part of the window.

 

When you invoke this window from the Transaction Details Window during Transaction Entry, or from the Amend Currency or Bank Reconciliation options, you can amend the currency information in this window if one of the exchange rates involved in the conversion is a floating rate, and the currency information has not been confirmed for the transaction. You can amend the currency information by entering:

§   A spot rate for the transaction to override the floating rate.

 

§   A specific value in base or cash book currency, from which Cash Manager calculates a spot rate for the transaction.

 

§   A 'cross rate' between the entry and base or cash book currency, if the conversion involves a multi-part exchange rate. Cash Manager uses the cross rate you enter and the fixed rate or rates involved to derive a spot rate for the transaction.

 

How Cash Manager processes the transaction if you use one of these options to override a floating rate with a spot rate for the transaction depends on the status of the batch:

§   For a transaction in an open batch, Cash Manager recalculates the base or book values of any dissections which have been entered for the transaction, accordingly.

 

§   For a transaction in a closed batch, Cash Manager creates an exchange gain or loss dissection.

Note

If the transaction has already been posted to General Ledger, the exchange gain or loss is posted to General Ledger when you confirm the currency.

Definitions

In the Global 3000 manuals we use the following terminology for exchange rates:

§   Floating rate. A variable exchange rate linking two currencies, neither of which is a sub-currency. Floating rates are recorded in the exchange rate tables in Currency Parameters, and can be overridden for specific transactions by a spot rate.

 

§   Fixed rate. The exchange rate between a master currency and one of its sub-currencies which is fixed at any one time. Fixed rates are recorded in the exchange rate tables in Currency Parameters. Global 3000 never allows a fixed exchange rate to be overridden for a transaction.

 

§   Multi-part exchange rate. Currency conversions that involve more than one exchange rate; for example, converting from a euro sub-currency to an independent currency such as the US dollar. The currency conversion involves two exchanges rates: the fixed rate between the sub-currency and the euro, and the floating rate between the euro and the US dollar.

 

§   Spot rate. A 'one-off' exchange rate entered to over-ride a floating rate for a specific transaction.

 

§   Audit rate. The overall rate between two currencies which are linked by a multi-part exchange rate. Global 3000 derives the audit rate from the two currency values involved.

 

§   Cross rate. A 'one-off' exchange rate entered to over-ride a multi-part exchange rate for a specific transaction. Global 3000 automatically derives a spot rate for the variable element of the multi-part exchange rate using the fixed rate or rates involved and the 'cross rate' you enter.

Note

All the details in this window are display-only:

§   If all the exchange rates involved in the currency conversion are fixed.

§   If the currency information for the transaction has been confirmed.

§   When you invoke this window from the Dissection Analysis Window or during enquiries.

§   When you invoke this window from the Release/Hold Cheques Window.

§   When you invoke this window from the Transfer Currency Menu.

The prompts are:

Transaction entered in

(Display only.) The name and code of the currency you entered the transaction in; i.e. the entry currency.

Converted to

(Display only.) The name and code of the currency being converted to.

 

If the cash book currency is different from base currency, this is either the cash book currency or the base currency, depending on the option you chose from the Currency Menu. Otherwise, this is both the cash book currency and the base currency.

Using

(Display only.) The names and codes of any currencies involved in the conversion.

Transaction entered as

(Display only.) The amount you entered in entry currency, and the currency code.

Exchanged at

All the exchange rates involved in the conversion are listed here in the order in which they are applied.

 

Each exchange rate is presented as the number of units of one currency that correspond to one unit of the other currency.

 

Fixed rates are display-only and are indicated by the word 'fixed' appearing in brackets on the right hand side. You cannot override them with a spot rate.

 

Floating rates are indicated by the absence of the word 'fixed', and you can enter a spot rate to override them. When you enter a spot rate, the amount in the currency being converted to and the audit rate are automatically adjusted accordingly.

Note

When you first enter this window for a new transaction, a floating rate defaults to the house exchange rate in force on the transaction date. If you enter a spot rate for the transaction, it is recorded with the transaction and displayed when you subsequently enter the window.

Transaction converts to

The value of the transaction in the currency being converted to. Whether this is the cash book currency, the base currency or both cash book and base currency is indicated by the words 'book', 'base' or 'book & base' appearing in brackets on the right hand side.

 

You can override the value in this currency, if a floating rate is involved in the conversion. Cash Manager uses this new value, the value in entry currency, and any fixed rates involved, to derive a spot rate for the transaction. This is then displayed in the appropriate slot above.

 

If the currency operates with a decimal precision of zero or one, you cannot enter a value with more non-zero decimal places than are allowed for the currency; for example if the decimal precision is zero you can enter the amount as '1478' or as '1478.00', but not as '1478.5'. For further information about the decimal precision of currencies, see Currency Maintenance in the Global 3000 Installation & Set-up Manual.

 

This prompt is display-only if all the exchange rates involved are fixed.

Audit rate

(Only currency conversions which involve multi-part exchange rates.) If the currency conversion involves a multi-part exchange rate, the overall or 'audit' rate is shown here. Cash Manager derives this value from the value in entry currency and the value in the currency being converted to.

 

If one of the exchange rates involved is a floating rate, you can enter a cross rate that relates the entry currency to the currency being converted to. Cash Manager derives a spot rate for the transaction from the cross rate you enter and the fixed exchange rate or rates involved. It then displays the new spot rate in the appropriate slot above and adjusts the value in the currency being converted to accordingly.

 

If only one exchange rate is involved in the currency conversion, it is displayed here.

On confirmation

You are returned to the menu or window from which you invoked the Currency Information Window.