Setting Up Multicurrency Accounting in Inventory Control

You use multicurrency accounting if you want to process receipt transactions and shipment transactions, maintain price lists, and fill orders (using Order Entry) in more than one currency.

To create a multicurrency Inventory Control system:

1. Select the Multicurrency option for the company and select a default rate type on the Company Profile screen in Common Services.
2. Use the Common Services currency screens to add any currency codes you need for Inventory Control, and enter exchange rates for the currencies you use.

   Sage 300 includes a large set of currency codes that use standard international abbreviations and the format and number of decimal places that are normally used with each currency. You probably will not need to define new codes unless you do not use the international codes.

3. Select the Multicurrency option on the Processing tab of the I/C Options screen to use more than one currency in Inventory Control.

   You can select the Multicurrency option for Inventory Control at any time. However, once you select it (and save your changes), you cannot change Inventory Control back to a single-currency ledger

4. Use the I/C Item Pricing screen to add item prices for every currency in which you sell each item.

You do not need to enter multicurrency totals for Inventory Control sales statistics, because the program keeps these statistics in the functional currency.

Last published: 4/8/2016