Phreesoft Support Forum

I see where we can setup currencies, but it appears it is not used for simultaneous multiple currencies. For our company we issue purchase orders for product in RMB (chinese) but sell in other currencies like USD, AUD, EUR, etc.

In other packages I've seen the account (vendor) associated with a currency, and then PO's are placed in that currency. When the PO becomes costed inventory (likely when you receive the inventory and pay the bill) the foreign currencies are converted to the master currency value. Therefore, only the purchase order and bill pay features need modification.

I saw a post that requested beta testing of "currencies" from last May and I'd like to volunteer to help if you have some code that could help with this.

Let me see if I understand this right. To keep things simple (relatively speaking), it would be best to keep the database in a single currency, say dollars. The currency conversion would then be performed prior to posting the transaction on writes and after retrieving the transaction on the reads. The non-default currency user would then see the value of the order in their respective currency based in the exchange rate in effect that day (or whenever the last time the rates were sync'd).

Puchase orders placed one day and re-posted another from an edit operation would float in the non-default currency and would display a different value each time it is viewed, right? All screens with monetary values would need to indicate the currency being displayed.

Reports would also need to be modified and additional processing operations would need to be added to convert to the currency of interest.

Does this sound something like what you are looking for?

We also need multiple currencies, support, we do business in 3 currencies now, both buy and sell.

I think it would be better to store the exchange rate that is used on a transaction, if the currency is changed on a transaction, then the stored rate should be used. You would need to set default currencies for location, customers, vendors, suppliers, etc. It would also be nice if you could, at POS, change currency or even pay with two currencies, If you wanted to get fancy, you would buy currency at one rate and sell currency at another, like banks do, a customer at POS pays in Quetzales and wants change in US Dollars.

But a lot of business is done in multiple currencies now days

I have added multi-currency to the latest svn (on top of R1.3.1). If you want to test it out, I would appreciate it.

Added to Release R1.4

Dave