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Exact Synergy Enterprise   

Modifying Currency



You can modify the details of the currencies used in transactions by your company.

Menu path

Go to Financial/Setup/General/Currencies. Click on any currency code.

Roles & rights

To modify currencies, function right 33 – Maintain currencies is required. By default, users with the General Manager and Controller roles have this function right.

For more details on what you can do with function rights or levels, go to System/Setup/Security/Function rights, select the required module, and then click on the relevant ID. To find out the functions you can perform with a particular role, go to System/Setup/Security/Roles, type in the description, click Refresh, and then click the required link under the Role column.



Click this to save the changes.


Click this to exit.


General section


This indicates the 3-character ISO currency code. You cannot edit this code when you want to maintain this currency as it is set by the system.


By default, the description is displayed. However, you can change the description.


Select this check box to activate the currency.

Precision section

Exchange rates

This is the precision for exchange rates. This precision reflects the number of decimal places for the exchange rate of this currency. For EMU currencies, the rule sets that exchange rates must show six figures.


Type the precision for the amount you want to enter in your administration. For most currencies, this is set to two and the amount shown will be in two decimals.


Type the precision for prices you want to enter in your administration. Prices are normally not rounded off unlike amount which is often rounded to two decimals. Hence, working with three or four precision for prices is common for certain goods with prices in high value currency like the British Pound (GBP).

Euro section


Select the EMU check box if this currency is a European Economic and Monetary Union (EMU) currency. 


Type or select the date to indicate the date when the currency joins the EMU group. 

Note: The EMU join date can only be entered if you select the EMU check box.

Exchange rates section

This section is not enabled for the default currency.


Select this to display the period exchange rates.


Select this to display the daily exchange rates.

The results section displays the daily or period exchange rates based on the Anglo-Saxon and Standard modules. You can click the code to modify or delete the exchange rate.

Note: The exchange rates will be displayed based on the six decimal places as defined for the exchange rate precision at Exchange rates under the Precision section. If you want to calculate an amount manually, you should use the Anglo-Saxon exchange rate instead of the standard exchange rates. However, if you choose to use the standard exchange rate to calculate the amount, you should not round the exchange rate to six decimal point because if you do, the manually calculated amount will be different from the system computed amount. For example, in financial year 2007 period 1, if you want to calculate manually an amount of MYR 1,000.00 to the value in EUR using the average standard exchange rate for that period, you should use the following formula:

Standard exchange rate = 1/4.60000

                                       = 0.21739130434782608695652173913043

Value in EUR based on the standard exchange rate = 1,000.00 x 0.21739130434782608695652173913043

                                                                                 = 217.391304

                                                                                 = 217.39 (round off to two decimal places for amount)

New button

Click this to create new daily or period exchange rates. Before clicking this button, you need to select Period or Daily. For more information, see Creating and Modifying Daily Exchange Rates and Creating and Modifying Period Exchange Rates.

Hyperinflationary section

This section indicates whether the currency is hyperinflationary and if it is, the effective year and period it becomes hyperinflationary. This section is available only if you have the module license YA1040 – Financial consolidation and option 470.

New button

Click this to create a new record for the hyperinflationary currency. For more information, see Maintaining Hyperinflationary Currencies.

Related document

 Main Category: Support Product Know How  Document Type: Online help main
 Category: On-line help files  Security  level: All - 0
 Sub category: Details  Document ID: 15.434.098
 Assortment:  Date: 30-09-2010
 Release:  Attachment: