Currencies (CM202000)

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

By using this window, you can add new currencies to the system and view information related to existing ones.

It is recommended that you follow established norms when assigning IDs to the currencies; refer to the ISO 4217 code list.

If you are in the list window, the first line in the table is a search line. Each column has a search field which you can click to search for or filter on specific values and narrow down the displayed table rows. You can search and filter in as many columns as you need to, to only display the results you want to view.

There are two types of search fields:

  • White: here you can type a specific search term to display results in this column containing this exact value. If you search on several (partial) words, you can separate them by a space or % and get different results:

    • space: the result contains the words in any order,

    • %: the result contains the words in the specific order, and the % functions as a wildcard as well.

  • Grey: you can click this to open the column filter pop-up window where you can filter the results for this column.

This area has multiple sections that hold currency-related information.

In this section, you can enter general information about a new currency, or select and view a currency that is already available in the system.

Element Description
Currency ID The unique identifier for the currency.
Active A check box that indicates (if selected) that the currency is available for use in Visma Net.
Currency symbol

The currency symbol to be used in reports.

To comply with international standards, refer to ISO 4217.
Decimal precision The number of digits following the decimal point that are used in operations with the currency.
Description

A description of the currency.

This alphanumeric string can be up to 30 characters.
Use for accounting

A check box that indicates (if selected) that the currency can be used for financial transactions.

When this check box is deselected, all account fields are disabled for the currency, and the currency can be used only for registration of expense receipts in the Expense receipts (EP301010) window.
Exclude from exchange rate import When this check box is selected, the exchange rate will not be included in exchange rate imports.
Element Description
Realised gain account

The account to accumulate the realised gains.

Its balance is updated on every payment document entered in the system that shows a gain in the base currency.

A gain is recorded if the exchange rate on the date of payment is greater than that on the date of the document.
Realised gain subaccount The corresponding subaccount for the realised gains.
Realised loss account

The account to accumulate the realised losses.

Its balance is updated on every payment document entered in the system that shows a loss in the base currency.

A loss is recorded if the exchange rate on the date of payment is less than that on the date of the document.
Realised loss subaccount The corresponding subaccount for such losses.
Element Description
Unrealised gain account The account to which the unrealised gains from supplier ledger and customer ledger revaluations will be posted.
Unrealised gain subaccount The corresponding subaccount for the unrealised gains for this currency.
Unrealised loss account The account to which the unrealised losses from supplier ledger and customer ledger revaluations will be posted.
Unrealised loss subaccount The corresponding subaccount for the unrealised losses for this currency.

These accounts are used to record gains and losses on revaluations performed in the Supplier ledger and Customer ledger workspaces.
If these accounts are not specified, the gains and losses will update the supplier ledger accounts and customer ledger accounts, respectively.

Element Description
Provisioning account suppliers

The account to accumulate gains or losses from supplier ledger revaluations.

If no account is selected, the revaluation gains or losses are recorded to the supplier ledger account.

Provisioning subaccount suppliers The subaccount to be used for supplier ledger revaluation gains or losses.
Provisioning account customers

The account to accumulate period-to-date customer ledger revaluation gains or losses.

If no account is specified, the revaluation gains or losses update the balances of the customer ledger accounts of customers.

Provisioning subaccount customers The subaccount to be used for customer ledger revaluation gains or losses.

The accounts and subaccounts specified here are used for posting gains and losses resulting from revaluations of general ledger accounts denominated to foreign currencies performed at the period end or on period closing.

Revaluation is performed with respect to the base currency.

Element Description
Revaluation gain account The account to which gains that result from general ledger revaluation will be posted.
Revaluation gain subaccount The corresponding subaccount for such gains.
Revaluation loss account The account to which losses resulting from general ledger revaluation will be posted.
Revaluation loss subaccount The corresponding subaccount for such losses.

The accounts and subaccounts specified in this section are used to record the gains and losses as results of translation to the currency.

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 in the Currency management preferences (CM101000) window.

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

The accounts and subaccounts specified in this section accumulate the results of rounding in operations with the currency.

The subaccounts that will be actually used for recording rounding gains and losses are generated according to the rule specified in the Combine gain/loss sub. from field in the Currency management preferences (CM101000) window.

Element Description
Rounding gain account The account to which gains resulting from rounding will be posted.
Rounding gain subaccount The corresponding subaccount for such gains.
Rounding loss account The account to which losses that result from rounding will be posted.
Rounding loss subaccount The corresponding subaccount for such losses.
The Rounding settings tab appears in the Currencies (CM202000) window only when the Invoice rounding functionality is enabled in the Enable/disable functionalities (CS100000) window.
Element Description
Rounding rules for invoices In the drop-down list, select the rounding rule you want to use.
Rounding precision If the selected rounding rule is other than Use currency precision, you can select the rounding precision from the drop-down list here.
Use customer ledger preferences settings

When this is selected, the system uses the rounding rules specified in the Customer ledger preferences (AR101000) window for the base currency.

You cannot override these rules.

Related concepts

About currency rate entry

About historical currency rates

About currency rounding rules

About currency setup parameters

Related tasks

Add a currency rate

Configure a currency

Related windows

Currency management preferences (CM101000)

Branches (CS102000)

Currency rates (CM301000)

Currency rate types (CM201000)