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Principles
As companies operate in more and more countries and areas, the ability to trade and report financial data in more than one currency becomes more important. You must set up a code for each currency you use, if you buy or sell in a currency other than your local currency, have accounts receivable and payables in other currencies, or record financial transactions in different currencies.
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It's a good idea to use codes that are easy to remember and descriptive, for example, ISO 4217 uses the following currency codes: DKK, USD, GBP, HUF, SEK, NOK, PLN, EUR.
The local currency (CZK) is never entered!
Dependencies and assumptions
Additional dial settings may be required to complete.
The purpose of this document is to document a description of the dial settings:
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Core Localization Pack for Czech - Business Central | Microsoft Learn
Dependencies and assumptions
Additional dial settings may be required to complete.
Currency
The Currency code list is used to link various types of information (e.g. rounding invoices for different currencies, accounts to which the program should post exchange rate gains and losses) and the currency code. Subsequently, it is necessary to define exchange rates for each currency in the Exchange Rate table. For a description of entering exchange rates, refer to Chapter https://iao.atlassian.net/wiki/spaces/OCDOC/pages/76710496/Currency+Setup#Exchange-rate .to Chapter 8.3.2
Default currency codes are entered, for example, on the Customer, Vendor or Financing Contract card, and when posting invoices, credit memos, etc., the program uses the information represented by this code from the Currency code list.
Table Currencies (Currency) is available in finance role centers, is also available in the Manual Setup list, and can also be found via a the system magnifying glass.
A new record can be entered via the "New" button in the main menu of the table.
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Code
It represents a unique code that the user enters manually. The code can be numeric, text, or a combination of numbers and text with a maximum length of 10 characters without spaces (it can be replaced by an underscore). We recommend creating it in such a way that it is easy to remember and helps the user identify what currency it is by the code (e.g. international currency abbreviations according to ISO 4217).
Description
The user manually enters the currency description/name.
ISO Code
informative field, specifies the three-letter currency code defined in the ISO 4217 standard.
ISO Numeric Code
information field, specifies a three-digit code number defined in the ISO 4217 standard.
Symbol (Symbol)
Specifies the symbol for this currency that you wish to display in checks and charts. You don't need to set this field.
Unrealized Gains Acc. Account
In this field, you can enter the G/L account number to which unrealized exchange rate gains will be posted when the Adjust Exchange Rates batch job is run.
Realized Gains Acc. Account
In this field, you can enter the G/L account number to which realized exchange rate gains will be posted when the Adjust Exchange Rates batch job is run.
Unrealized Losses Account (Acc.)
In this field, you can enter the G/L account number to which unrealized exchange rate losses will be posted when the Adjust Exchange Rates batch job is run.
Realized Losses Account (Acc.)
In this field, you can enter the G/L account number to which realized exchange rate losses will be posted when the Adjust Exchange Rates batch job is run.
EMU Currency
flag that specifies that the currency is an EMU currency. If you are applying entries in different EMU currencies to each other, a check mark must be inserted in this field for all EMU currencies. Currency settlements can then be set up in Sales & Receivables Setup and Purchase & Payables Setup. One of the settlement options is the EMU currency.
Last Date Modified
the system will automatically fill in the date of the last change of any information in the Currency table. Each time a user makes a change in any of the code list fields, the system automatically changes the date in the Modified On field.
Last Date Adjusted
The system automatically fills in the date of the last exchange rate adjustment - i.e. the date when the Exchange Rate Adjustment batch job was last run. Each time a user runs the Adjust Exchange Rates batch job, the system automatically changes the date in the Adjusted On field.
Payment Difference % (Payment Tolerance %)
automatically completes the system with the Change Payment Difference batch job (button in the menu of the Process -> Change Payment Difference tab). The batch job described in the next chapter.
Max. Payment Tolerance Amount
the system is automatically completed with the Change Payment Tolerance batch job (button in the menu of Process -> Change Payment Difference). The batch job described in the next chapter.
Payment Variance Change
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Batch Job
Using a Batch Job Change Payment Difference (Change Payment Tolerance), the user can change the maximum payment variance or payment variance percentage, or both, and filter by currency. If there are open customer and vendor entries, the program asks if the user wants to change any open entries that are not blocked, and the entries are updated accordingly.
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All Currencies
Check if the user wants to change the deviation settings for the local currency and all foreign currencies.
Currency Code
The user selects the currency code for which he wants to change the variance setting. The system automatically pre-fills the currency code from the card from which the user ran the batch job.
Payment Difference % (Payment Tolerance %)
The user manually enters the percentage by which the payment or refund can be less than the amount shown on the invoice or credit memo. The variance value will then be posted to the set variance account.
Max. Payment Difference Amount (Max. Pmt. Tolerance Amount)
The user enters the maximum allowed amount, by which the payment or refund may differ from the amount shown on the invoice or credit note. The variance value will then be posted to the set variance account.
Currencies tab – Rounding tab
Fields to set set:
Invoice Rounding Precision (Max. Pmt. Tolerance Amount)
The user manually enters the size of the interval to use when rounding invoice amounts in this currency.
Invoice Rounding Type
The user selects the invoice rounding type from the options:
Closest Nearest (Nearest) Up
Up
Down Down
The program uses this information together with the rounding interval that was specified in the Amount Rounding Precision field.
Amount Rounding Precision
The user manually enters the size of the interval to use when rounding amounts in that currency. This type of rounding is valid for currencies that do not use fractions in units. Amounts will be rounded to the nearest digit.
Amount Decimal Places
The user specifies the number of decimal places that the program will display (e.g. on invoices and in reports) for amounts in this currency. The default setting, 2:2, specifies that these foreign currency amounts will be displayed to two decimal places. The following can be entered:
Fixed number (fixed number) – – e.g. 2 – display to 2 decimal places
Minimum A minimum and maximum number – ee.g. 2:4 – displays min. a minimum of 2 and max. a maximum of 4 decimal places. For example, 125.00 or 325.1234.
Unit-Amount Rounding Precision
The user can manually enter the size of the interval to be used when rounding unit amounts (i.e., price per unit/piece) in this currency. According to this setting, the program rounds the amount in the Unit Price for Customers field and in the Purchase Price for Vendor field on the invoice line. To round unit prices to whole numbers, the user enters 1.00. To round unit prices to two decimal places, the user enters 0.01.
Unit-Amount Decimal Places
The user specifies the number of decimal places that the program will display (e.g., on invoices and reports) for the sales and purchase prices of the item, and for the sales prices of resources in that currency. The default setting of 2:5 specifies that these selling and buying prices in foreign currencies will be displayed to a minimum of two decimal places and a maximum of five decimal places. The following can be entered:
Fixed number (fixed number) – – e.g. 2 – display to 2 decimal places
Minimum and maximum number (A minimum and maximum number ) – ee.g. 2:4 – displays min. a minimum of 2 and max. a maximum of 4 decimal places. For example, 125.00 or 325.1234.
Accuracy of Ok. Alignment (Appln. Rounding Precision)
The user manually enters the size of the interval that will be allowed as the rounding difference when applying an item in different currencies to each other. The rounding difference interval is governed by the currency of the entry that is applied to one or more other entries. Rounding differences can be calculated and posted only if the entry being applied to one or more other entries is a payment item. For example, if an LCY entry is applied to a EUR item, and the settlement rounding precision for LCY is 1.00, the program will accept a difference of LCY 1.0 or less and completely close the settlement entries.
Debit account zaok. LCY conversion (Conv. LCY Rndg. Debit Acc.)
The user enters a debit account if it is required to insert correction lines for rounding differences into the general journals using the Insert Lines Zaok.konv.LM function.
Account Credit zaok. LCY conversion (Conv. LCY Rndg. Credit Acc.)
The user enters a credit account if it is required to insert correction lines for rounding differences into general journals by using the Insert Lines Zaok.konv.LM function.
Max. VAT Difference Allowed
the user manually enters the maximum amount of VAT correction for this currency, e.g. value 1 for EUR, it will be possible to adjust the VAT amounts for this currency up to 1EUR.
VAT Rounding Type
The user selects the VAT rounding method when calculating with this currency. Withdrawal options:
Closest Nearest (Nearest) Up
Up
Down.
Currencies tab – Reports tab
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The Currency Exchange Rates table is available in the Currencies code list, in the main menu Process -> Exch.Rates, or in the currency row by clicking on the value in the Exchange Rate column.
Fields in the tableto set:
Starting Date
Enter the date when the exchange rate on the line came into force.
Currency Code
it is filled automatically depending on which row you opened the Exchange Rates table above
Exchange Rate Amount
Specifies the amounts that are used to calculate foreign currency exchange rates in this row. For example, the EUR currency is set to 1.0.
Relative Exch. Rate Amount (Relational Exch. Rate Amount)
Specifies the amounts that are used to calculate foreign currency exchange rates in this row. Setting the amount from the ticket valid on the specified start date.
Adj. Exchange Rate Amount (Adjustment Exch. Rate Amount)
Specifies the amounts that are used to calculate the exchange rate that will be used by the Adjust Exchange Rates batch job. For example, the EUR currency is set to 1.0.
Relational Adjmt Exch Rate Amt
Specifies the amounts that are used to calculate the exchange rate that will be used by the Adjust Exchange Rates batch job. The amount from the exchange rate list valid as of the entered start date is set.
Fix Exchange Rate Amount
Specifies whether the currency exchange rate can be changed on invoices and journal lines. The default value is Currency, and this is also set. The Relative Currency value is set when the currency code (e.g. DEM to EUR) is changed.
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You can use an external service to keep exchange rates up to date. The service is available from the Currencies code list in the Exchange Rate Service -> Exchange Rate Service main menu, or by searching through the magnifying glass.
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The table is set up as shown in the image above.
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For SK the table is set as follows:
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URL for SK them: http://www.ecb.europa.eu/stats/eurofxref/eurofxref-daily.xml
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A new entry can be entered via the "New" button on the Action Pane, or via the function: Actions > New, or click in the last empty row.
FieldFields to set:
Currency Code
The user selects a currency code from the Currency code list (), for which he creates an exchange rate.
Starting Date
The user enters the starting date of the exchange rate. There cannot be multiple records with the same start date for a single currency.
Exchange Rate Amount
The user manually enters the exchange rate amount for a given currency and for a given day.
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