Spire User Manual - General Ledger
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      2. Spire User Manual - General Ledger

      GENERAL LEDGER - Multiple Currencies

      Manage unlimited currencies, having all transactions translated into Base Currency at time of posting, but maintaining A/R and A/P balances and GL Transactional lookup, in Foreign Currency 

       

      • Activate with careful consideration as this cannot be undone - Company Settings > Currency
      • Access
        • Edit menu > Currencies
        • General Ledger Module > Accounts tab > New Account > Currency Browse > New Currency
      • Refresh to load any Currencies that may have been posted since last refresh and that may not be displaying on this list 
      •   Currency List Customization - see General Ledger Accounts List Customization
      • Currencies List Context Menu - right-click on any line(s) to display 
      • Export selected Currency(s) in Excel (.xlsx only) or CSV format - see Export (see GL Accounts Export)
      • New Currency 
        CurrencyMainTab 
        • establish the Currency Code
        • select the Country from a list of over 200
        • enter the Description
        • Main tab
          • choose method of Rate value
            • RadialButtonBlue Direct - enter how many Base dollars this Foreign unit will buy
            • RadialButtonBlue Indirect - enter how many of this Foreign unit your Base Dollar will buy
          • Format
            • Unit Name - select from the drop down menu or type your own
            • Fraction Name - select from the drop-down menu or type your own
            • Sign - select from the drop down menu or type your own
            • select RadialButtonBlue Sign is Prefix (comes before amount) or RadialButtonBlue Sign is Suffix (comes after amount)
            • select the Thousands Separator
            • select the number of Decimal Places this currency uses
            • select the Decimal Mark this currency uses
          • Gains / Losses
            • GL Account - select the GL Account that will capture the Gains / Losses when currency rate(s) fluctuate
            • assign the Threshold before the Gain / Loss is captured (monitored from Base currency)
        • Monthly Rates tab - rates here are used for back-dated and post-dated transactions (all foreign transactions in the current month use the current rate in the Main tab) 
      •   Edit the selected Currency
      •   Delete the selected Currency provided it is not in use
      •   Revalue GL Accounts to the current Exchange rate for the related currency(s) / or rates from the Monthly Rates table, if the Revaluation is back-dated or post-dated
        GLRevalueCurrencySelection 
        • select or accept the Revalue as of date
        • CheckBoxCheckedBlue select which currency(s) you wish to revalue+


                                   InventoryPriceLevelsListCurrencyColumn

            • establish the Currency in Price Matrix settings (see Price Matrix)
            • otherwise, the Foreign Customer price will calculate from the base Inventory Sell Price using the current rate of exchange
          • Foreign Currency Inventory Purchasing 
            • establish the Foreign Vendor cost in Vendor Details > Vendor Prices tab (see Vendor Prices)
            • if there is no Vendor Price saved, the Purchase Order will calculate the cost based on the current rate of exchange in that PO