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Please keep in mind that once the vendor currency has been selected and saved it can't be changed. The only way this can change is by contacting Komet Sales Support. |
Overview
After the Multicurrency option is enabled, a field with currency options is displayed in the vendor setup window so a different currency can be selected. (To know how to enable multicurrency, please click here).
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Go to Setup>>Vendors. |
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Click on Edit for a specific vendor. |
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The vendor's window should look like this before you start setting up the exchange rate: |
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Once you enable the currency option, the vendor's window should now look like this so you can proceed to select the vendor's currency. |
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| title | Multicurrency Option on AWB Reconciliation |
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If a given vendor has a different currency, the system will display it while entering the AWB Cost components. Notice that you will have to enter the cost on your vendor currency and the system will automatically convert the amount to your company's currency. Once you add the cost, the system will display both the amount in your vendor's currency and your company's currency. By hovering the mouse over your company's currency, the system will display the exchange rate set up at the moment the vendor invoice was uploaded. | Warning |
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| If the user makes any changes in this invoice, the system will retain the exchange rate set up at the moment the invoice was uploaded. |
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| title | Multicurrency Option in Inbound Truck Reconciliation screen |
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If a given vendor has a different currency, the system will display this information on the Inbound Truck Reconciliation screen while entering the invoice of the Truck Freight cost. If this is the case, you will have to enter this freight in your vendor's currency. Once the information is saved, the system will calculate the amount to pay based on your company's exchange rate. By hovering the mouse over your company's currency, the system will display the exchange rate set up at the moment the vendor invoice was uploaded.
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If the user makes any changes in this invoice, the system will retain the exchange rate set up at the moment the invoice was uploaded. |
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| title | Multicurrency Option in PO Reconciliation screen |
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If a given vendor has a different currency, the system will display this information on the PO Reconciliation screen. While you are uploading Vendor Invoices, the system will ask you to enter the Total of the Invoice in your vendor's currency instead of your company's currency. Once the information is saved, the system will calculate the amount to pay based on your company's exchange rate. By hovering the mouse over your vendor's currency, the system will display the exchange rate set up at the moment the vendor's invoice amount is uploaded.
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If the user makes any changes in this invoice, the system will retain the exchange rate set up at the moment the invoice was uploadedHow does this option work?
Once you setup a currency and exchange rate for a vendor, costs will be entered in your vendor's currency instead of your company currency. However, users will always be able to see the exchange rate and the cost in your company currency. This applies for Standing Orders, Prebooks, Purchase Orders and from Accounts Payable screens.