Pricing Exchange Rates
General information about code lists can be found in the chapter Setting Basic Parameters, section Code Lists.
Pricing exchange rates are useful for users who maintain their inventory in CZK but buy and sell goods from a price list in foreign currencies as well. This exchange rate is used to convert the last purchase price and the defined selling price from the price list into a foreign currency. It also allows you to set, for example, a more favorable exchange rate for converting selling prices, or to maintain the same selling price for a specific period.
If a price conversion has been performed using a pricing exchange rate, the unit price in cash receipts, purchase invoices, and sales invoices will be color-highlighted, and hovering over the field with your cursor will display relevant information.
Example: The selling price of an item in the warehouse is set at CZK 100 per unit. The current exchange rate on the foreign exchange market is, for example, 24.675 CZK per Euro.
If you do not have a pricing exchange rate defined, the value of 100 per unit in a foreign currency sales invoice line will appear in the "Base [currency]" field. The "Base [CZK]" field will contain the value of 100 converted according to the exchange rate set in the document's bottom-right panel under the "Currency" tab. The selling price will therefore be calculated as CZK 2,467.50 (100 × 24.675).
You set the pricing exchange rate at 24.00 CZK per Euro. In this case, the value of 100 per unit in a foreign currency sales invoice line will be converted using the pricing exchange rate to 4.17 Euro (100 ÷ 24) and displayed in the "Base [currency]" field. The "Base [CZK]" field will then convert the 4.17 Euro according to the current exchange rate set in the document's bottom-right panel under the "Currency" tab, ensuring that the correct exchange rates are used for accounting purposes. This way you can, for example, offer your foreign partner consistent prices for an entire month. If you want to use the current exchange rate for conversion, you must keep updating it in the pricing exchange rates accordingly.
The list is essentially the same as the previous option "Exchange Rates". You can open it from the "Tools" menu under "Code Lists -> Pricing Exchange Rates".
The toolbar at the top of the table contains a number of buttons whose functions are described in the separate chapter "Program Controls".
__________________________________________________________________
Main Panel
Clicking the "New" button opens a form for adding a new exchange rate.
The toolbar at the top of the form contains a number of buttons whose functions are described in the separate chapter "Program Controls".
Currency: Use the button
to select the currency for which you want to set the exchange rate from the drop-down list.
Date: The date for which you are setting the exchange rate. Fill it in using the button
or enter it manually. The current date is suggested by default.
Exchange Rate: The valid exchange rate for the date specified above. If you keep your accounts in Czech currency, for example, the value "CZK" will be displayed after this field.
Amount: This is the value taken from the exchange rate list. In most cases it is set to 1, meaning the exchange rate is defined per one foreign currency unit. The abbreviation of the selected currency is also appended after the field, so you can immediately see that, for example, 25.00 CZK = 1 Euro.
__________________________________________________________________