# Currency

### **Module Guide: Currency**

#### **Module Location**

#### Settings > System Settings > Currency

#### **Module Purpose**

#### The **Currency** module serves as master data to define all types of currencies that will be used in transactions throughout the system. Its purpose is to create a standardized list of currencies, complete with their codes, symbols, and descriptions, so the system can handle multi-currency transactions and calculate exchange rates correctly.

### **1. Main View (Currency List)**

#### The main page displays all currencies that have been registered in the system, both active and inactive.

#### View Explanation

- #### **Search Filter**: Allows for a quick search based on the Currency ID or Active status.
- #### **List Table**:
    
    
    - #### **No**: Serial number.
    - #### **Currency ID**: The international standard code for the currency, for example, `AED`, `AUD`, `IDR`.
    - #### **Currency Description**: The full name or description of the currency, for example, `United Arab Emirates Dirham`, `Australian Dollars`, `Rupiah`.
    - #### **Active Status**: An indicator that shows whether the currency can currently be used in transactions. A green checkmark indicates active, and a red cross indicates inactive.
- #### **Action Buttons**:
    
    
    - #### **Add**: Opens the form to add a new currency.

### **2. Add Currency Page**

#### This form is used to define a new currency in the system.

#### View Explanation

- #### **Currency ID**: A field to enter the standard 3-letter code of the currency; this is required.
- #### **Currency Symbol1**: A field for the main currency symbol, for example, `Rp` or `$`.
- #### **Currency Symbol2**: A field for an alternative symbol, if any.
- #### **Currency Description**: A multilingual field to enter the full name or description of the currency.
- #### **Active Status**: An option to activate or deactivate the currency.
- #### **Required Field**: A note indicating that fields with an asterisk are required.
- #### **Buttons**:
    
    
    - #### **Save**: To save the new currency data.
    - #### **Cancel**: To cancel the process.

### **3. Steps to Add a New Currency**

1. #### From the main page, click the **Add** button.
2. #### Fill in the **Currency ID** with the ISO code, for example, `JPY` for Japanese Yen.
3. #### Enter the symbol in **Currency Symbol1**.
4. #### Write the description in **Currency Description**.
5. #### Select **Active Status** if this currency will be used immediately.
6. #### Click the **Save** button.

### **Integrated Workflow and Business Process**

- #### **Multi-Currency Transactions**: This master data is a prerequisite for conducting purchase or sales transactions in currencies other than the company's functional currency.
- #### **Exchange Rate Management**: This currency module will be closely linked with the exchange rate module. The system will use the list of active currencies here as a basis for managing daily or periodic exchange rate tables.
- #### **Financial Reporting**: Enables the creation of financial reports that can be converted into various currencies, providing a clearer picture of the company's performance on a global scale.
- #### **Bank Reconciliation**: Important for the process of reconciling bank accounts that use foreign currencies.

### **Tips and Important Notes**

- #### Use **Currency IDs** that comply with the ISO 4217 standard to ensure consistency and ease of integration with other systems.
- #### Only activate currencies that are actually used by the company in transactions to keep the selection list concise and relevant.
- #### When deactivating a currency, ensure there are no open transactions or account balances still using that currency to avoid accounting complications.