MANAGE CURRENCIES

Use the Manage Currencies screen to maintain information about your functional currency and the other currencies you use, including the number, date, and time formats related to those currencies.

Only one functional currency can be in effect at any given time. Since values entered into Costpoint remain constant, we highly recommend not selecting a different functional currency after initialization. However, you can change the currency features (informal names, placement of currency symbol, and so on) of your selected functional currency without affecting the representation of your financial statements.

You can use Costpoint without adjusting the Windows settings to match the settings on the Manage Currencies screen. However, in order to print uniform reports, we recommend that the currency format settings match the corresponding regional settings in Windows Control Panel.

Use the Manage Currencies screen during the initial Costpoint installation. When you change the settings for a currency, Costpoint will format numeric information based on the new settings. The settings do not take effect until the user performing the changes logs out of Costpoint and then logs back in.

Location

Related Topics

Currencies in Costpoint

Pay a Multicurrency Invoice

Create Multicurrency Purchase Orders

Billing and Cash Receipts in Multiple Currencies

Managing Exchange Rates

Currency

Currency ISO Code

Enter, or click to select, the three-letter currency code set by the International Standards Organization (ISO) for the currency you want to set up, or use Lookup to select the code. Changes to this code automatically change the display of the currency default format fields in this screen.

Formal Name

This field displays a description for the ISO code (for example, U.S. Dollar). Although you can edit this field, we recommend that you accept the default name for the selected currency ISO code. If you do change it, make sure the formal name, singular formal name, and plural formal name are all derived from the same basic currency name.

Formats

Informal Name (singular)

This field displays the name of one unit of the chosen currency (for example, Dollar). Although you can edit this field, we recommend that you accept the default name for the selected currency ISO code. If you do change it, make sure the formal name, singular formal name, and plural formal name are all derived from the same basic currency name.

Informal Name (plural)

This field displays the name of more than one unit of the chosen currency (for example, Dollars). Although you can edit this field, we recommend that you accept the default name for the selected currency ISO code. If you do change it, make sure the formal name, singular formal name, and plural formal name are all derived from the same basic currency name. name.

Currency

Use the fields in this group box to edit the format settings for the currency. After you change any field in this group, the sample amounts are reformatted using the new settings.

Symbol

Enter the symbol for the currency (for example, $ for U.S. dollars). For most currencies, Costpoint displays a default symbol based on the currency code. Some systems do not automatically display a Japanese yen symbol (¥) or a British pound symbol (£). To enter a yen symbol, hold down the Alt key while you enter 157 using your keyboard's numeric keypad. To enter a pound symbol, hold down the Alt key while you enter 156 using your keyboard's numeric keypad. 

Positive Format

Enter, or click to select, the format you want to use for positive currency amounts, or use Lookup to select the format. This format determines the placement of the currency symbol for positive amounts.

Negative Format

Enter, or click to select, the format you want to use for negative currency amounts, or use Lookup to select the format. This format determines the placement of the currency symbol for negative amounts.

Decimal Digits

Select the number of digits to display to the right of the whole currency units. For example, for U.S. dollars, this field should contain 2, the number of digits that appear to the right of the decimal point. Amounts with at least two decimal digits will round to two decimal places.

Number

Use the fields in this group box to specify the characters to use as separators in numbers. If you change any field in this group box, the sample number is reformatted using the new settings.

1000 Separator

Enter the character used to separate thousands place from the hundreds place in currency amounts.

Decimal Separator

Enter the character used to separate decimal currency units from whole units.

Date

Use this group box to specify a format for numeric dates. If you change any field in this group box, the sample date is reformatted using the new settings.

Order

Use these options to specify the order for day, month, and year for numeric dates:

Separator

Select a character from the drop-down list to separate the month, day, and year segments of dates. The options are:

Time

Use this group box to specify a format for displaying times. If you change any field in this group, the sample time is reformatted using the new settings.

Hour Format

Select either the 12-hour or 24-hour format.

When you use the 12-hour format, you must also make entries in AM Symbol and PM Symbol. When you use the 24-hour format, you do not need make entries in AM Symbol and PM Symbol (example: 1:00 PM in 24-hour format is displayed as 13:00).

AM Symbol

If you selected 12 Hour, enter the AM indicator.

PM Symbol

If you selected 12 Hour, enter the PM indicator.

Separator

Select the character from the drop-down list that you want to use to separate hours from minutes and minutes from seconds in the time format. The options are: