Currency & Exchange Rate File

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Currencyandexchange.jpg

1 Currency code

Unique code assigned to the currency.

Codes are short abbreviations given to records under various files in the NEOSYS database. Codes are easier to remember and information pertaining to a particular record can be pulled up by entering its code. It cannot be more than 8 alphanumeric characters.

NEOSYS advises users to use the 4 letter coding system in order to ease the complex task of assigning different codes to various records. See Codes in NEOSYS.

2 Currency name

Name of the currency as you would want it to be referred to throughout the system. eg, USD, US Dollars,etc.

Enter currency name.

3 Subunit name

Name of the subunit of the currency,eg.cents for USD, fils for AED,etc.

Enter Subunit Name.

4 Decimals

Select the decimal points depending on the subunit of the currency. You can either choose '.00' or '.000'.

For currencies divided into 100 subunits select '.00' as decimals, eg.UAE Dirham, US Dollar,etc

For currencies divided into 1000 subunits select '.000' as decimals, eg.Omani Riyal, Kuwaiti Dinar, Tunisian Dinar, etc.

5 Payment instructions

See Configuring Payment Instructions

6 Exchange rates

The exchange rate of the currency against the base currency.

Specify the exchange rates of the currency.

Currency exchange rates vary from time to time and NEOSYS allows us to keep track of these variations with a date reference. We can add lines to this option and enter the date along with the exchange rate.

7 Alias codes

See What are alias codes