How to Maintain Currencies in Cloud Accounting System

Created by Shirley Choong, Modified on Sat, 30 Sep 2023 at 08:04 PM by Shirley Choong


QCA allows you to record transactions and maintain currencies in cloud accounting system other than MYR. These currencies can be assigned to a Customer or a Supplier and used in transactions by establishing an Exchange Rate. The transaction will then be automatically converted and posted in Local Currency by the system.

Navigate to Company, Expand Maintenance and click on Currencies. Click Add to create a new Currency.

 

Define all setting fields for the New Currency Code.

Currency: This is a required field that displays all available currencies along with their corresponding Sign

Sign:   This is a required field, fill in the currency sign.

Name: This is a required field, fill in the currency name.

Cent Format: This is a required field, fill in the currency cents format.

Default Sales & Purchase Rate: Default Exchange Rate Value to display in transaction. User may edit the rate in the transaction deemed necessary.

Forex Gain & Loss Account: Define the default posting GL Account Codes for this currency when there are forex gain or loss in a transaction. Based on the Exchange rate differences, the forex gain and loss are automatically computed and posted to their corresponding GL Accounts defined in this screen.

 

Once done, Click on OK to save.

 

 

To Edit, navigate to the Currencies List View. Click on the Currency Code to prompt the setting window.

 

 

Update the required fields with new data. Once done, click on OK again to save the new settings.

 

 

 


Deleting Currency Code can be done easily, provided that it is not used in any transactions and is not associated with any Customer or Supplier.

To Delete a Currency Code, go to the Currency List View.

You may easily pick several items by using the checkboxes in the far-left corner of each term. The Delete button will be enabled after you have chosen the currency(s) you want to delete.


Clicking on Delete will prompt a request for confirmation. Click on ‘Confirm Delete’ to delete the currency(s).

 

 

Currency Code created can be used in Supplier/Customer Maintenance, as well as in non-AR and AP transaction forms. 

 

Payment Voucher


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