Create and edit Standing Orders for vendors with different currencies to keep track of the cost and price in your company's and your vendor's currencies.
Roles enabled to perform this action: Administrator, Sales Manager, Sales, Procurement Manager, and Allocations.
Important
Features explained below are available when the multi-currency setting is enabled. For more information, please read the following: Exchange Rate Setup and Vendor's Currency Setup.
Costs and exchange rates entered in Standing Orders (SO's) will be transferred to Prebooks and Purchase Orders once they are created, either through the manual or through the automatic process.
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Add costs when adding or editing Standing Orders
When a product is being added to a Standing Order for a vendor with a different currency, the system will identify the currency and the exchange rate setup so that the user enters the cost in the vendor currency and the price in your company currency.
This also applies while adding products in units and mixed boxes. Costs will be entered in the foreign currency, and by hovering the mouse over the currency name, the system will display the exchange rate and the unit cost in both the vendor and the company currencies.
Add Costs from the Standing Order Summary
Using the Edit Vendor and Cost option, you will visualize costs in your vendor currency (when it is different from your company currency) from the Standing Order details screen.
Update costs in your Vendor's currency
Standing Orders created before the 15th of October 2020 won't display the vendor currency and the exchange rate. Follow the next steps to update and visualize multicurrency information for those orders.
Go to Prebooks & SO's>>Standing Order Summary.
Search for the Standing Order for which you want to update the cost in foreign currency.
Click on the option Edit Vendor and Costs option from the Actions column.
Reenter the vendor of the Standing Order. Once you do that, the cost field will be updated, displaying the cost in your vendor currency. Hover the mouse over the currency symbol to see your company's currency's current exchange rate and cost.
Click on Done to save the changes.
