¶ Purpose
The purpose of the Currency Master is to define and manage currencies used across ERP transactions. It maintains essential currency attributes such as Currency Code and Name enabling multi‑currency transactions, accurate exchange rate application, and consistent financial reporting. A well‑configured Currency Master ensures correct valuation, compliance with accounting standards, and seamless domestic and international business operations.
¶ Prerequisites
- Access rights must be assigned to the user responsible for adding, editing or deleting currency details.
¶ Add Currency Details
The Currency Master- Mode: New screen allows the user to add currency details required to execute transactions.
Navigation: Main – Menu → Masters → Master -General → Currency → Add
- The user can search for particular details based on the Code, Change, Exchange Date, Buying Price, Custom Price, In Word, Description, Ex Rate and Selling Price.
- The Currency screen displays details of the currency such as the Code, Change, Exchange Date, Buying Price, Custom Price, In Word, Description, Ex Rate and Selling Price.
- Click Add to add the new currency details, and the screen will appear as shown below.
- The Currency Master- Mode: New screen allows the user to add currency details such as the Code, Change, Exchange Date, Buying Price, Custom Price, In Word, Description, Ex Rate and Selling Price.
- The user must enter details such as the Code, In Word, Change, Description and Ex Rate.
- The user must select the appropriate Exchange Date from the dropdown calendar.
- The user can enter the Buying Price, Selling Price and Custom Price.
- Click Save, the Code and Description will appear on the left panel of the screen.
¶ Edit Currency Details
The Currency Master - Mode: Edit screen allows the user to edit the added or existing currency details if required.
Navigation: Main – Menu → Masters → Master -General → Currency → Select Currency Name → Edit
- The user must select the appropriate Code and Description from the left panel of the screen.
- Once the user selects the Code and Description, the currency details will appear automatically.
- Click Edit, the following screen will appear.
- The Currency Master - Mode: Edit screen allows the user to edit details such as Code, Change, Exchange Date, Buying Price, Custom Price, In Word, Description, Ex Rate and Selling Price.
- Click Save, to save the edited details.
¶ Delete Currency Details
The Currency Master - Mode: Edit screen allows the user to delete the added or existing currency details if required.
Navigation: Main – Menu → Masters → Master -General → Currency → Select Currency Name → Edit → Delete
- The user must select the appropriate Code and Description from the left panel of the screen.
- Once the user selects the Code and Description, the currency details will appear automatically.
- Click Edit, the following screen will appear.
- Click Delete, the following message will appear.
- Click Yes, and the currency details will disappear from the left panel of the screen.
Note: The user can delete the details of the currency only if they are not used in any transactions or masters.
¶ View Details in Tree or Grid
The Grid View and Tree View options allow the user to view currency details either in a tabular format or in a hierarchical structure for easier navigation and understanding.
- Click Grid View to view details in tabular format (rows and columns), as shown below.
- Click Tree View to display data hierarchically (parent-child structure), as shown below.
¶ Search Currency Details
The Search option allows the user to search for currency based on the Code, Description, Buying Price, Change, Custom Price, Exchange Rate, Exchange Date, In Word and Selling Price.
- Click Search, and the screen will appear as shown below.
- The user must select the appropriate Filter On and Filter Text from the dropdown list.
- The user must enter the corresponding filter value and press Enter key.
- Once the user presses Enter key, the corresponding list will appear on the left panel of the screen.
¶ Print Currency Details
The Print option allows the user to print the added or existing currency details.
- Click Print, the following screen will appear.
- Click Filter, to search for details.
- Click Sort, to arrange details in either ascending or descending order.
- Click Export to Excel, to view details in Excel.
- Click Settings, to adjust Columns, Fonts, Row Height, Fit To Page, Page Setup and Printer Setup.
- The Set Col Details option allows the user to adjust column width as required.
- The Font option allows the user to edit Font Family, Font Style, Size, Effects and Scripts as required.
- The Auto Row Height option allows the user to adjust row height if required.
- The Fit to Page option allows the user to scale the content to fit the page if required.
- The Printer Setup option allows the user to configure the Printer, Print Range and Copies details if required.
- The Page Setup option allows the user to set the Paper Size, Orientation (Portrait or Landscape) and Margins in Inches (Left, Right, Top and Bottom) details as required.
- Click Print, to print details.
- Click Print Preview, to view details before printing.
- Click Close, to navigate to the Currency screen.
¶ Where Used
The Where Used option provides a list of transactions or tables where a specific currency is used in the application.
- The user must select the Code and Description from the left panel of the screen.
- Click Where Used, and the following screen will appear.
- The Where Used screen displays details such as SL No., Where Used and Details.
¶ Bulk Update - Update Multiple Currency Details
The Bulk Update option allows the user to edit multiple currency details at once.
- Click Bulk Update, and the following screen will appear.
- The user can edit details such as the Code, In Word, Change, Description, Exchange Date, Exchange Rate, Buying Price, Selling Price and Custom Price.
- Click Save.
¶ Functional Use Cases
| Sl. No. | Use Case | Business Scenario | Functional Outcome in ERP |
|---|---|---|---|
| 1 | Create Currency | Organization operates in multiple currencies. | ERP allows creation of currency master records. |
| 2 | Define Currency Code | Each currency must be uniquely identified. | ERP enforces unique currency codes (e.g., INR, USD). |
| 3 | Maintain Currency Name | Users need clear currency identification. | ERP displays standardized currency names. |
| 4 | Define Symbol & Precision | Currency formatting is required. | ERP applies correct symbol and decimal precision. |
| 5 | Assign Base / Reporting Currency | Financial reporting needs a base currency. | ERP supports base and foreign currency handling. |
| 6 | Use Currency in Transactions | Transactions occur in different currencies. | ERP enables currency selection in transactions. |
| 7 | Financial Posting & Reporting | Multi‑currency accounting is required. | ERP posts and reports values accurately. |
| 8 | Audit & Control | Master data changes must be traceable. | ERP maintains audit trail for currency changes. |
¶ Use Case Scenario
- Click here for a detailed use case scenario.
¶ Transaction Checklist
| Steps | Checklist Item | Details / Purpose |
|---|---|---|
| 1 | Identify Business Requirement | Confirm the need to create or update a currency. |
| 2 | Define Currency Code | Ensure standard and unique currency code (e.g., INR, USD). |
| 3 | Confirm Currency Name | Verify correct and standardized currency name. |
| 4 | Define Symbol | Ensure appropriate currency symbol is entered. |
| 5 | Set Decimal Precision | Confirm number of decimal places as per accounting rules. |
| 6 | Check Existing Currencies | Avoid duplicate currency definitions. |
| 7 | Verify Base / Reporting Currency | Confirm base currency setup for the company. |
| 8 | Authorization & Approval | Obtain approval for currency creation or changes. |
| 9 | Assess Transaction Impact | Review impact on pricing, billing, and accounting. |
| 10 | Audit & Compliance Review | Ensure setup complies with financial and audit standards. |