Purchase Orders lets you process transactions in any currencies your vendors use. This section summarizes the steps you take to set up a multicurrency Purchase Orders system.
To create a multicurrency Purchase Orders system:
- Turn on the Multicurrency option for the company and select a default rate type on the Company Profile screen in Common Services.
- Use the Common Services Currency screens to add any currency codes you need for Purchase Orders, and enter rates for the currencies you use.
- Turn on the Multicurrency option on the Accounts Payable Options screen. This step automatically turns on the Multicurrency option for Purchase Orders as well.
- Create an account set in Accounts Payable for each currency you want to use for Accounts Payable vendors in Purchase Orders.
- If you post transactions to add current or year-to-date requisitions or purchase orders, enter the amounts in the vendors' currencies.
- If you enter statistics for previous years and periods, enter the amounts in both the functional and vendor currencies. Purchase Orders cannot calculate equivalent amounts from statistics you enter yourself.
Sage 300 comes with a comprehensive 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.
For more information, see About Processing Multicurrency Transactions in Purchase Orders.