Currencies & Security

Currencies

Menu File | General | Currencies

The Currencies screen displays currencies in a list.

To add a new currency: click the New button. Or menu Records | New.
To edit a currency: double-click the currency. Or select the currency and press Enter or click the Edit button. Or menu Records | Edit.
To delete a currency: select the currency and click the Delete button. Or menu Records | Delete.

You can select a currency with the mouse or by the keyboard via the Page Up/Down and arrow keys.

The menu has options to

- refresh the data displayed to show changes entered by other users, etc.
- print the list

When setting up vendors and customers you specify the currency, thereby setting the currency for their invoices. You can set up a default currency for Your Company so that this information is entered automatically.

Data from AP and AR invoices is passed to the GL system automatically with expenses and revenues converted from foreign currency to domestic currency. "You can trade globally in multiple currencies while your books remain in domestic currency".

For more info on multi-currency operation see Multi-currency Overview.

Name
Enter the name of the currency.
Example: Canadian

Exchange Rate
Leave exchange rate blank if this is your domestic currency.

This is the factor by which to multiply a foreign currency to convert it to your domestic currency. Revenue, expense, discounts, and write-offs are converted to domestic currency when posting to the GL. The difference goes to the gain/loss on foreign exchange GL Account. The exchange rate should be updated periodically to the current exchange rate so as to keep the conversion as accurate as possible.
Example: 1.4 Converts US dollars to Canadian (if you are a Canadian company) if US$1.00 = CDN$1.40
Example: 0.72 Converts Canadian dollars to US (if you are a US company) if CDN$1.00 = US$0.72

GL Accounts
Accounts Payable, AP Discounts, Accounts Receivable, AR Discounts, AR Write-offs (default), and Gain/Loss on Foreign Exchange. Select the GL accounts for this currency. If you need to add a new GL account to the drop down list, click the “3 dots” button. If this is your domestic currency, leave the Gain/Loss on Foreign Exchange account blank

Security

Menu File | General | Security

The Security screen displays a list of users allowed access to the database.

You can assign a password to each user and specify which parts of the program they are allowed access to, such as Customers, AR Invoices, etc.

To activate security, add at least one user. Users will then be required to enter a valid user name and password in order to access the database. To deactivate security, delete any previously added users.

To add a new user: click the New button. Or menu Records | New.
To edit a user: double-click the user. Or select the user and press Enter or click the Edit button. Or menu Records | Edit.
To delete a user: select the user and click the Delete button. Or menu Records | Delete.

You can select a user with the mouse or by the keyboard via the Page Up/Down and arrow keys.

User Name
Enter the name of the user.
Example: John Doe

Password
Enter the password (optional) for this user. Each user can have a different password.
Tip: It is recommended that you change the passwords regularly.

Allow access to…
Check the options this user is allowed access to.