Set Up Currencies

When you format the currency that your company uses, you specify its decimal point placement, symbol, and units. If your firm uses multiple currencies, you have additional options, such as establishing a triangulation currency for indirect currency exchanges.

To set up currencies:

  1. In the Navigation pane, select Settings > Currency > Options.
  2. If you use a single currency (you have not enabled the Multicurrency feature), use the fields and options on the Currency Options form to specify the currency's decimal point, symbol, and units (major and minor).
  3. If you have enabled the Multicurrency feature, complete the following actions on the Currency Options form:
    1. Below the Currency Format grid, click + Add Currency Format to open a new row in the grid.
    2. In the Code field, enter the three-character ISO 4217 code for the currency, such as CAD for Canadian dollars or EUR for euros.
    3. Enter a description, specify a number of decimal places, select a currency symbol, and specify units (major and minor).
    4. If you are using the XE.com Currency Exchange Rate service, complete the fields in the XE.com Settings grid and XE.com Currencies grid.
    5. To specify the currency used to perform a triangulation through an intermediate currency when a direct or inverse exchange rate is not available, select the currency from the Triangulation Currency drop-down list in the company-specific section.
    6. To enable another currency, click + Add Currency below the Enabled Currencies grid, specify the three-character ISO 4217 code for the currency, such as CAD for Canadian dollars or EUR for euros, and enter a description for it.
  4. Click Save.