SytelineMaster

General Concept:

• Customer amounts will be stored in the customer’s currency. This effects CO, Estimating, and AR.
• Vendor amounts will be stored in the vendor’s currency. This effects PO and AP.
• Cash accounts in Bank Reconciliation may be stated in non-domestic currencies. When receiving customer payments or making vendor payments we may specify the payment with either domestic currency or the customer/vendor currency.
• All journal. Ledger, inventory ( price & cost) and shop floor amounts are always stated in domestic currency.

NOTE: Therefore when amounts are posted into journals they are translated.

PO & AP:

• Gain/Loss – When exchange rates increase over time (foreign currency per one unit of domestic currency), we record a gain and when exchange rates decrease, we record a loss.
• Entry – PO header & line/release casts are entered and stored in the vendor’s currency. Whenever these amounts are defaulted from the Item master, they are converted using the current exchange rate.
• Receiving – At receiving time, we record the amount received, cost, and exchange rate. We post domestic amounts to the journal using this exchange rate.

Account Numbers Posted (PO Dist):

• Debit- Inventory account
• Credit- Vouchers Payable

Generating Voucher (PO) & Posting Vouchers (AP) – When we create the voucher record, we store any change in exchange rate from Receiving time to voucher generation time as a distribution. The voucher is stored in the Vendor’s currency. When the Voucher is Posted, domestic amounts are posted to the journal and vendor amounts are put on the Posted Transactions record along with the exchange rate that was used for posting.

Account Numbers Posted (AP Dist):

• Credit – Accounts Payable
• Debit- Vouchers payable

Payment – Payments may be entered in either Domestic Amount or Vendor’s amount based upon the currency code of the Bank Code you select for the payment. When the payment is posted, domestic amounts get posted to the journal, and vendor amounts are put on the Posted Transaction record. At payment posting time, we perform a mini-gain/loss for the voucher and any payments or adjustments to that voucher. All of the Posted transactions tied to the voucher will be “upgraded” to the new exchange rate
Account Numbers Posted (AP Dist):

• Credit – Cash account (Payment Amt @ new rate)
• Debit – Accounts Payable (Voucher Amt @ old rate)

Voucher’s Gain/Loss posted to either Loss (Debit) or Gain (Credit)

CO & AR:

• Gain/Loss- When exchange rates decrease over time ( foreign currency per one unit of domestic currency), we record a gain and when exchange rates increase, we record a loss.
• Entry- CO header and line prices are entered and stored in the customer’s currency. Whenever these
  amounts are defaulted from the item master, they re converted using the current exchange rate.
• Shipping- At shipping time, we record the amount shipped, price, and exchange rate. We post domestic amounts to the journal using this exchange rate.

Account Numbers Posted (CO Dist):

• Debit – Cost of Good Sold
• Credit – Inventory

Invoice Printing (CO) Posting (AR) – When we create the invoice record, we store any change in exchange rate from Shipping time to invoice printing time as a distribution. The invoice is stored in the Customer’s currency. When the Invoice is Posted, domestic amounts are posted to the journal and customer amounts are put on the Posted Transaction record along with the exchange rate that was used for posting.

Account Numbers Posted (AR Dist):

• Credit – Sales (Invoice @ Old rate)
• Debit – Accounts Receivable (Invoice @ new rate)

Payment – Payments may be entered in either Domestic Amount or Customer’s amount based upon the currency code of the Bank Code you select for the payment. When the payment is posted, domestic amounts get posted to the journal, and customer amounts are put on the Posted Transaction record. At payment time, we perform a mini-gain/loss for the invoice and any payments, debits or credits to that invoice. All of the Posted transactions tied to the invoice will be “upgraded: to the new exchange rate.

Account Number Posted (AR Dist):

• Debit – Cash (Payment Amt @ new rate)
• Credit _ Accounts Receivable ( Invoice Amt @ old rate)

Difference to currency Loss (Debit) or Gain Account (Credit)

Gain/Loss Utility

At various times, users may wish to recognize any outstanding Gains or Losses. They may run this utility and specify either AR,AP or both.

AR – We process all Posted A/R Transactions and upgrade them to the current exchange rate. For each invoice that has a gain or loss, we post the amount to Accounts Receivable and the Gain or Loss Account.
AP- We process all outstanding PO Receipts (received but not yet vouchered) and upgrade them to the current exchange rate. For each record that contains a gain or loss. We post the amount to Vouchers payable and the Gain or Loss Account.

We process all unposted vouchers and upgrade them to the current exchange rate. For each voucher that has a gain or loss, we post the amount to Vouchers Payable and the Gain or Loss Account.

Gain/Loss Accounts:

• Users establish account records for Gains and Losses.
• The Gain Account is always used to record gains due to exchange rate changes.
• The Loss Account is always used to record losses due to exchange rate changes.

Currency Master:
SyteLine contains a currency master file where all currencies are maintained. Users may enter an unlimited number of date & time stamped currency exchange rates. They may also back-date these rates by entering a past date. There are two exchange rates entered. The Buying rate is used exclusively in PO and AP. The selling rate is used exclusively in CO, Estimating, and AR.

Financial Statements:

Users are able to print Financial Statements in different currencies. Prior to SYMIX 4.0, they could only accomplish this when they were consolidating multiple divisions. The “final” Financial statement would be printed in the currency of the division running the report. The exchange rates used to convert the data were the ones stored in the division running the report. Now in V 4.0, users can choose which currency they wish to print their financial statements in. The exchange rates used to print the report are the rates stored in the database that contains the ledger records being processed. The translations are for display purposed only. No posting of any kind takes place & no gain or loss is calculated.
Translations are defined for each line of the financial statement. Users choose to use the Buying or Selling Exchange rate. They choose a translation method: None ( no translation), Spot ( historic rate for each transaction), Current ( current exchange rate), Average Period ( weighted average exchange rate in effect for the accounting period for each transaction), End of Period ( exchange rate in effect at the end of the accounting period for each transaction)

This is about Progress version of Syteline, on how multi-currency works in Financial Statements.

FINANCIAL STATEMENTS
The exchange rate table (could be local or global) normally used by the database from which the Financial Statement is being printed will be used for the translations. Therefore, unless Current Rate translation is to be used on all accounts, the exchange rates in the Corporate database would best be entered correctly throughout the fiscal year, even if no translations are needed between those currencies until the financial statements are printed. Alternatively, exchanged rates may be entered and back-dated (e.g.,;, for subsidiaries acquired in the middle of the year), assuming a sufficient rate history has been stored correctly elsewhere (e.g.,’, on paper or in the new subsidiary’s system).
FINANCIAL STATEMENT OUTPUT
gl/calc-bal.p:
If None translations is requested, calculate balance as it is done currently.
If Current Rate translations is requested, calculate balance as above, then find current exchange rate and translate and round to the Corporate’s currency.
If End of Period translations is requested, translate each pertot.amt at its end of period exchange rate, and translate the remaining ledger amounts at each one’s end of period exchange rate. Then round the final balance.
If Average Period rate translation is requested, proceed like End of Period, but use the following formula to calculate the average exchange rate for each period.
Avg. Rate = (SUM(Rate * Effective Time))/
( Length of Period)
where Effective Time is the amount of time during which the rate was in effect during the period ( in seconds), and length of Period is also in seconds.
For speed, you may want to calculate, before starting through the sequence lines, the average buying and selling rates for all periods appearing on the report ( if any sequence lines use this method), and save them in a workfile or array for use here.
If Spot Rate translation is requested, DO NOT USE pertot records. Translate each ledger amount at the exchange rate in effect on its Transaction Date. Round the final balance.
We Process all posted transactions and upgrade them to the current exchange rate. For each voucher that has a gain or loss, we post the mount to Accounts payable and the Gain or Loss Account.
FINANCIAL STATEMENTS
Users are able to print Financial Statements in different currencies. Prior to SYMIX 4.0, they could only accomplish this when they were consolidating multiple divisions. The “final” Financial statement would be printed in the currency of the division running the report. The exchange rates used to convert the data were the ones stored in the division running the report. Now in V4.0, users can choose which currency they wish to print their financial statements in. The exchange rates used to print the report are the rates stored in the database that contains the ledger records being processed. The translations are for display purposes only. No posting of any kind takes place & no gain or loss is calculated.
Translations are defined for each line of the financial statement. Users choose to use the Buying or Selling Exchange rate. They choose a translation method: None ( no translations), Spot (historic rate for each transaction), Current ( current exchange rate), Average Period (weighted average exchange rate in effect for the accounting period for each transaction), End of Period (exchange rate in effect at the end of the accounting period for each transaction)

If you will be dealing with customers or vendors who use currencies other than your base (domestic) currency, use the following process to set up exchange rates and other multi-currency features.

1. Make sure the general ledger accounts specific to currency exchange are set up in the Chart of Accounts:

• Realized Gain
• Realized Loss
• Unrealized Gain
• Unrealized Loss
• A/R Unrealized Offset
• A/P Unrealized Offset
• V/P Unrealized Offset

If you are not using Unit Code 4 for anything else, you might want to set Unit Code 4 to Accessible for these accounts, and use it for reporting the foreign currency impact of the different currencies. If you do this, the currency codes must be entered for Unit Code 4. For information about setting up unit codes, see Account Unit Code (1-4).

1. Set up currency and exchange rate variance accounts for the domestic currency and the Euro on the Multi-Currency Parameters form, to help you track realized and unrealized gains and losses due to exchange rate changes. These accounts should match the ones you set up in step 1. During installation, you set up a Site Currency Code, which is the domestic currency code shown on this form.
2. Set up all other required currencies used by your vendors and customers in the Currency Codes form.For each currency code, the unrealized and realized G/L accounts specified on this form default to the accounts set up in the Multi-Currency Parameters form. You can also designate expenses by currency code if you use unit code 3 or 4.
3. Use the Currency Rates form to enter exchange rates between all currencies you set up in step 3 and the domestic currency.
4. Use the Bank Reconciliations form to set up bank codes and accounts to use with foreign currency customers and vendors. The bank reconciliation, attached to the bank code, maintains a record of all receipts and payments for each currency/bank code. If you will be recording A/R or A/P payments in foreign currencies, you should set up the foreign bank codes (with applicable currency codes) on the Bank Reconciliations form. Then you can include those foreign bank codes on customer and vendor records.
5. Use the Customers and Vendors forms to set up foreign currency customers and vendors.
6. If your system will share currency information between multiple sites, set up Replication Rules for the Shared Currency replication category.
7. Enter foreign currency customer orders and purchase orders. To see the amounts translated to your domestic currency, use the associated Domestic Currency forms.
8. Periodically, update the exchange rates and run the Currency Revaluation Utility. This utility uses the current exchange rate (from the Currency Rates form) to determine gains and losses due to currency fluctuations.

After Setup

1. Enter foreign currency customer orders and purchase orders. To see the amounts translated to your domestic currency, use the associated Domestic Currency forms.
2. Periodically, update the exchange rates and run the Currency Revaluation Utility. This utility uses the current exchange rate (from the Currency Rates form) to determine gains and losses due to currency fluctuations.