You use multicurrency accounting if you want to process receipt transactions and shipment transactions, maintain price lists, and fill orders (using Sage 300 Order Entry) in more than one currency.
To create a multicurrency Inventory Control system, you:
- Turn on the Multicurrency option for the company and select a default rate type in the Company Profile of Common Services.
- 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.
- Select the Multicurrency
option in the Options screen in Inventory Control to turn on multicurrency
accounting for your Inventory Control system.
You can select the Multicurrency option at any time; but once you save the Options screen with the option selected, you cannot change back to single-currency accounting.
- Use the Item Pricing screen and Copy 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.