In Xentral you have the option to spend amounts in receipts in the currency of the destination addresses by creating an exchange rate for the respective currency, which you can then choose from.
The currency conversion function allows you to retrieve and update the current exchange rates of each currency to the euro from the European Central Bank (ECB), which allows you to always store the current exchange rate to the euro in your documents for foreign currencies and output it when exporting financial accounting.
Under Administration > Appstore or via Smart Search > Currency Conversion, you can find the currency conversion app where you can create relevant exchange rates, retrieve the daily exchange rates for the currencies invested and load all exchange rate data from the European Central Bank (ECB).
In the tab ‘Overview’ you can see all courses that are regularly fetched and entered by the ECB.
Note
The prerequisite for using this app is that you have activated the process starter ‘Currency ECB Rates’.
Via the menu column you can edit entries via the "pen" icon and delete entries via the "X" icon.
To get the current exchange rates from the ECB, you have two options:
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Get only added rates from the ECB: Only the rates of already added currencies will be fetched from the ECB server. For example, if you want to fetch only USD (US Dollar), you can manually create a currency and update this entry.
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Get all exchange rate data from the ECB: The exchange rates of all available currencies are picked up from the ECB server and you get a complete list.
In order to regularly fetch new currency conversions or the corresponding rates from the ECB server, there must be at least one entry for a currency. You can pick up all exchange rates from the ECB once by clicking on the button above.
Alternatively, you can create an entry manually and have it updated.
Steps Create New Currency Conversion:
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To do so, click +NEW.
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Fill in the following fields:
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Currency of: Enter the currency you want to convert.
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Currency after: Enter the currency to convert to.
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Exchange rate: Enter the current exchange rate of the currencies, using the currency in the 'Currency of' field as the starting point.
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Date of Expiry (optional): Enter here how long this course should be valid.
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Finally, click Save.
With these simple steps you are ready to use currency conversion in your Xentral ERP.
For the correct currency to be drawn for the customer immediately in the sales order, you must enter the appropriate currency in the customer data under Master Data > Addresses > Details > Payment Terms / Taxation.
You can select or change the currency in the document, e.g. in the order.
Under Master Data > Products, you can create both purchase and sales prices in different currencies. To do this, go to the ‘Purchasing’ or ‘Sales’ tab in the product and first enter the price in your own currency. You can then select and create the converted target price using the ‘currency conversion table’ button.
After clicking the ‘Create’ button, you will find the newly created price in the overview.
Select only the currency you want to receive as an entry.
Warning
If you check all currencies, entries in the purchase or sale price will be created for all these currencies and suggested in position tables, you can manually delete the entries individually.