Edit Currency Window

Currency

The code assigned to the currency. Users can quickly enter a currency on the system by entering the code, instead of searching for it.

Enter the ISO 4217 currency code. (Be aware that your library may have a another format you need to follow.)

Take note:

You should not define a currency code for your library’s currency. You should only create currency codes for foreign currencies you need to use.
You cannot change or delete the currency code if it is assigned to one or more POs or statement headers.

Description

Enter a name or description of the currency, such as “Canadian Dollars.”

Decimal Places

The number of places to the right of the decimal point that amounts are displayed for the currency. Most currencies use two decimal places, but others use more.

Enter the number of places to the right of the decimal point to display amounts for the currency.

Exchange Rate

The currency’s current exchange rate. Horizon multiplies amounts in the foreign currency by this rate to calculate the amount in your currency.

Enter the currency’s current exchange rate. Be sure to enter the rate of exchange used to convert amounts in the foreign currency to your currency, not the other way around.

Take note:

Exchange rates can change frequently. You should update the exchange rates of your active currencies periodically to encumber and expend funds accurately.

 


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