Operating Options Window - Part Two

 

This window appears when you confirm your replies in the Operating Options Window - Part One window

Purpose

This window enables you to specify currency and tax parameters.

The prompts are:

Multi-currency

(Y/N.) Enter Y if you need to record transactions in more than one currency.

 

If you enter N, the system will not prompt for a currency during transaction entry. However you must still define the base currency at the next prompt.

 

You can change from single to multi-currency, (i.e. from N to Y).

Warning

You cannot change from multi-currency to single currency (i.e. from Y to N).

Default base currency

Each company has its own base currency. The base currency you enter here is used as a default when you set up a new company.

Warning

You should not change this parameter after it is set up.

Foreign currency postings in GL

(Y/N.) Enter Y to allow foreign currency transactions to be entered in General Ledger, otherwise N.

 

You can only set this prompt to Y if 'Multi-currency' above is also set to Y.

Tax reference

Enter a three character tax abbreviation; for example VAT or GST. This will appear on windows and reports.

Note

In this manual the tax reference in use is 'VAT'; for example the title in the 'Tax Code Maintenance' window is 'VAT Code Maintenance'

House exchange rate type

The code of the exchange rate table to be used for non-tax exchange rate calculations. Press <F1> for a list of valid codes.

 

You can change this parameter after your system is operational. All new transactions will then use the new exchange rate table.

Note

Exchange rate tables are defined through the System Codes option of Administration Parameters.

 

Exchange rates themselves are entered through the Currency Parameters option of Administration Parameters.

 

You can define different tables to be used for non-tax exchange rate calculations:

§   In Creditors Ledger for use in Creditors Ledger, POP, and Landed Costs.

 

§   In Debtors Ledger for use in Debtors Ledger and SOP.

Tax exchange rate type

The code of the exchange rate table to be used for tax calculations. It can be the same as the house exchange rate table if this is acceptable to your local tax office. Press <F1> for a list of valid codes.

Tax analysis in DL

(Y/N.) Enter Y if you want Debtors Ledger to prompt for and calculate tax. Enter N if you want all Debtors Ledger transactions to be zero-rated.

 

You can change this parameter to affect new transactions entered into Debtors Ledger.

Tax analysis in CL

(Y/N.) Enter Y if you want Creditors Ledger to prompt for and calculate tax. Enter N if you want all Creditors Ledger transactions to be zero-rated.

 

You can change this parameter to affect new transactions entered into Creditors Ledger.

On completion

Þ Configuration Window.