Currency Codes

You use the Currency Codes application to define and manage currencies. A currency code is a user-defined value that represents a currency. For example, CND represents the Canadian dollar.

The Currency Codes application stores currency codes at the system level. All organizations can view, use, and add currency codes. After you create an active currency code, you can use that currency code in applications that have a Currency field. For example, the Purchase Requisitions application, Purchase Orders application, Invoices application, and Companies application have a Currency field.

Though you use the Currency Codes application to define currencies, you use the following applications to manage other aspects of currency administration:
  • Organizations - to specify the base currency for an organization.
  • Exchange Rates - to specify exchange rates between currencies for defined periods.

Foreign currencies

When you have purchasing records in a foreign currency, the current exchange rate is used to calculate the base cost in the currency of your company. Purchasing records include purchase requisitions, purchase orders, and invoices.

Deleting currency codes

You can delete currency codes that you are no longer using. You cannot delete currency codes if they meet any of these conditions:
  • The currency code is used in a Currency field on any record (unless the status is closed or cancelled).
  • The currency is used in an active exchange rate in the Exchange Rates application.
  • The currency is specified as the base currency for an organization.
  • The currency code is referenced in the following tables: PO, PR, COMPANY INVOICE, MATRECTRANS, MATUSETRANS, SERVRECTRANS, INVOICETRANS, and RFQVENDOR (unless the records are flagged as history or inactive).