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Currency Codes Setup

Modules>Accounting>Overview>Accounting Setup>Currency Codes

The currency codes added must be accepted by the exchange rate web service (http://www.webservicex.net/) used by netFORUM and your merchant account must be set up to accept these currencies as well.

To add a currency code, complete the following steps:

  1. Go to the Accounting Overview page.
  2. Click the Accounting Setup page hyperlink. This opens the Accounting Setup page.
  1. Click the Add icon located on the currency codes child form.This opens the Add - Currency pop-up window.
  2. Complete the following fields as needed:
Field Name Required? Description
code Required The code used to identify each currency. This code must be identical to the code in the exchange rate web service for that currency.
description Required The name of the area that the currency is associated with. For example, "United States Dollar" distinguishes the currency from the Canadian Dollar (CAD). Enter the country if that currency is specific to that country or region e.g. European Union (EUR) for the "Euro" or Bolivia (BOB) for the "Bolivianos".
symbol prefix Optional The symbol that is used in front to the currency e.g. $, € (Euro), £ (Pound).
symbol suffix Optional The symbol or code used after a currency as another distinguishing identifier, e.g. $50CAN
calculation method Required The mathematical equation (multiply or divide) used to calculate the exchange rate. This defaults to multiply.
unit Required The basic unit of the currency e.g. dollars, euro, francs, pounds, pesos, rupees, ruble etc.
sub-unit Required The subdivision of the main currency unit, usually in coins, For example, cents, centavos, kopeks, paise, pence, and so on.
separator Required The punctuation used to seperate the digits in the currency. The "comma" is the most commonly used separator.
accuracy Required The amount of digits after the decimal point (Commonly TWO). Exchange rates will be returned to three decimal points.
negative display Required This is how you want your negative numbers to display. For example, -999.99, (999.99), Cr 999.99
fractional separator Required The punctuation used to separate the main unit from the sub-unit. The decimal point or period (.) is the universally accepted symbol used by nearly all currencies.
  1. Click the Save button.The new currency code has been added to the currency code child form and is now available in the Currency drop-down menu in netFORUM.

Tip: It is a good idea to expand the currency codes child form prior to adding a currency code in order to make sure the currency code you need has not already been created.