Currency management preferences (CM101000)

This topic provides information about the elements in this window in Visma Net, such as fields, field values, buttons, and check boxes.

You use this window to define the allowed rate variance used during data entry. Also, you can specify default rate types to be used for transactions in the Supplier ledger, Customer ledger, and Cash management workspaces and rounding gain and loss accounts for the base currency.

For translations, you can assign the number series, the default translation, and the number of periods for which the system will keep the records. For more information on using multiple currencies, see: About currency rate entry.

The General settings area

This area covers all the settings pertinent to the Currency management workspace, organised into multiple sections.

The Setup and numbering settings section

Element	Description
Batch number series	The number series assigned to batches of transactions originating in the Currency management workspace. You can select the value from the list of number series available in the system.
Translation number series	The number series that is used for translations. You can select the value from the list of number series available in the system. This field is available only if the Translation of financial statements functionality is enabled in the Enable/disable functionalities (CS100000) window.
Batch ref. number series	The number series used for revaluation transactions of supplier and customer ledger accounts. You can select the value can be selected from the list of number series available in the system.
Combine gain/loss sub. from	The adjustable subaccount mask that defines the rule of composing subaccounts for recording realised and unrealised gains and losses and gains and losses resulting from rounding and translations. Note This rule is used for all currencies available in the system. For each segment, point to a segment and press F3 to open the list of options. The following options (defining the source of the segment value) are available: C From a subaccount associated with the branch (defined in the Branches (CS102000) ../../shared-files/cs102000-ref.html window) N From a subaccount associated with the currency Note that the letter designating the option is repeated as many times as there are characters in the respective segment.

The Posting settings section

Element	Description
Automatically post to general ledger on release	A check box that indicates (if selected) that the batches originating in the Currency management workspace will be automatically posted to the general ledger on their release.

The Data entry settings section

Element	Description
Warn about rate variance	A check box that indicates (if selected) that the system should issue a warning when the rate specified for a transaction exceeds the default rate by a value greater than the Rate variance allowed.
Rate variance allowed (%)	The maximum rate variance allowed on transactions, expressed as a percent. Along with the Warn about rate variance option, this setting helps protect against occasional input errors.
Default translation ID	The default type of translations performed in the system. You can select it from the list of previously defined translations. Transactions are defined on the Translation definition (CM203000) window. Initially, you can save the window without specifying a default translation. This field is available only if the Translation of financial statements functionality is enabled in the Enable/disable functionalities (CS100000) window.

Warn about rate variance

A check box that indicates (if selected) that the system should issue a warning when the rate specified for a transaction exceeds the default rate by a value greater than the Rate variance allowed.

Rate variance allowed (%)

The maximum rate variance allowed on transactions, expressed as a percent.

Along with the Warn about rate variance option, this setting helps protect against occasional input errors.

Default translation ID

The default type of translations performed in the system. You can select it from the list of previously defined translations. Transactions are defined on the Translation definition (CM203000) window. Initially, you can save the window without specifying a default translation.

This field is available only if the Translation of financial statements functionality is enabled in the Enable/disable functionalities (CS100000) window.

The Default rate types section

Element	Description
General ledger rate type	The default rate type to be used in General ledger and for translations. Select a currency rate type from the list.
General ledger revaluation rate type	The default rate type for revaluations performed for currency denominated accounts.
Cash management rate type	The default rate type to be used in Cash management. Select a currency rate type from the list.
Rate type customers	The default rate type to be used in Customer ledger. Select a currency rate type from the list.
Revaluation rate type customers	The default rate type to be used for revaluation of the customer ledger. Select a currency rate type from the list.
Rate type suppliers	The default rate type to be used in Supplier ledger. Select a currency rate type from the list.
Revaluation rate type suppliers	The default rate type to be used for revaluation of the supplier ledger. Select a currency rate type from the list.

The Realised gain and loss settings section

The accounts and subaccounts specified in this section are used only for the base currency. Realised gains and losses are calculated when payments in the base currency are applied to the documents in foreign currencies.

Note

The subaccounts that will be actually used for recording realised gains and losses are generated according to the rule specified in the Combine gain/loss sub. from field.

Element	Description
Realised gain account	The account to accumulate the realised gains.
Realised gain subaccount	The corresponding subaccount for the realised gains.
Realised loss account	The account to accumulate the realised losses.
Realised loss subaccount	The corresponding subaccount for such losses.

The Translation gain and loss settings section

The accounts and subaccounts specified in this section are used only for the base currency.

Note

The subaccounts that will be actually used for recording translation gains and losses are generated according to the rule specified in the Combine gain/loss sub. from field.

Element	Description
Translation gain account	The account to which gains resulting from translation into the base currency will be posted.
Translation gain subaccount	The corresponding subaccount for such gains.
Translation loss account	The account to which losses resulting from translation into the base currency will be posted.
Translation loss subaccount	The corresponding subaccount for such losses.

The Import exchange rates section

These fields are available if AutoPay is activated in the company.

Element	Description
Automatically import exchange rates	When this is selected, it activates a predefined schedule that imports the exchange rates automatically as defined below in the Import frequency field. The following currencies get their exchange rates from the European Central Bank: \|\|\|\|\|\|\|\| \|—\|—\|—\|—\|—\|—\|—\| \|AED\|CNH\|GBP\|ISK\|MYR\|RUB\|USD\| \|AUD\|CNY\|HKD\|JPY\|NOK\|SAR\|ZAR\| \|BGN\|CZK\|HUF\|KRW\|NZD\|SEK\|\| \|BRL\|DKK\|IDR\|KWD\|PHP\|SGD\|\| \|CAD\|EGP\|ILS\|KZT\|PLN\|THB\|\| \|CHF\|EUR\|INR\|MXN\|RON\|TRY\|\| Other currencies have their rates collected from the Danske Bank, Finland.
AED	CNH	GBP	ISK	MYR	RUB	USD
AUD	CNY	HKD	JPY	NOK	SAR	ZAR
BGN	CZK	HUF	KRW	NZD	SEK
BRL	DKK	IDR	KWD	PHP	SGD
CAD	EGP	ILS	KZT	PLN	THB
CHF	EUR	INR	MXN	RON	TRY
Import exchange rate to Rate type	Click the to select the rate type that will be updated to the Rate type field as the result of the import. If you click the icon, the Currency rate types window pops up where you can maintain the currency rate types.
Import frequency	Select how often the automatic import will be run: Daily, Weekly, or Monthly.
Last import date	The date when the exchange rates were last imported.