The functional currency is the home currency in which your company books are kept.
- You select the functional currency for your Sage 300 database in the Company Profile screen in Common Services when you first set up your Sage 300 system.
- You cannot change the functional currency once you have selected it.
For more information about the functional currency, see the System Manager Help.
Accounts Payable Determines whether Purchase Orders is Multicurrency
The Multicurrency option is set for Purchase Orders in Accounts Payable, and, once it is selected, you cannot change it.
The Processing tab in the P/O Options screen indicates whether Purchase Orders is multicurrency:
- If Accounts Payable is multicurrency, Purchase Orders is multicurrency also.
- If Accounts Payable is single-currency, Purchase Orders is single-currency.
If the Multicurrency option is turned on, the tab also displays:
- The company's functional currency.
- The company's default rate type for converting source-currency amounts to functional-currency equivalents.
The default rate type is displayed on transactions you enter for multicurrency vendors you have not yet added to Accounts Payable. You can select a different default rate type to use for Purchase Orders at any time. You can also select different rate types for individual transactions as you enter them.
Information about creating multicurrency records is included throughout these Help topics in discussions of records and activities affected by currency. For a summary of the steps to take to set up a multicurrency ledger, see Setting up Multicurrency Accounting.