Conversion from Single Currency

Conversion from Original Currency

Example Scenario

If you enter a value in the original amount registered to currency, and Maconomy has to calculate the values in the other currencies:

• Conversion to base: Target is the base currency. Therefore, Maconomy uses the company/job-specific exchange rate table.
• Conversion to enterprise: Maconomy uses the enterprise exchange rate table from base currency. Therefore, the system always converts via the base currency.

Order of Conversion

Note: We recommend the amount in original currency and enterprise currency to have the same amount if they have the same currency, and if you will use the same exchange rate table for conversion from original to base, and base to enterprise.

There are instances where there is a reference currency, an additional currency that can be the customer standard currency, vendor standard currency, or job invoice currency.

Maconomy calculates the amount in reference currency from the original currency, using the company or job-specific exchange rate table.

Order of Conversion

Note: The amount in reference currency and base currency must be the same, if it is the same currency.

Conversion from Base Currency

If you enter a value in base currency, where there is no original currency. The currency amount becomes a reference currency.

Order of Conversion

Conversion from Enterprise Currency

There is a difference between conversion from the enterprise currency amount, and from an amount in the enterprise currency.

Example 1

You can enter the enterprise amount in the G/L journal. The amount you entered is posted as the enterprise amount.

Order of Conversion

Example 2

You can enter a credit max on a customer. The amount is in the enterprise currency, and it is converted to the relevant currency when needed.

Note: This is not a conversion from the enterprise amount. It is a usual conversion from an amount that has the same currency as the enterprise amount. We recommend that you select a currency amount and a currency.

Use the following currency conversion rule in both cases:

Order of Conversion