See Also: Exchange Rate Video

Introduction

The AwardPro exchange rate system allows you to set supplier trading currency so you can purchase in supplier currency and automatically convert it it your currency for costing purposes.

When you create a supplier you have the opportunity to register which currency that supplier deals in. Then when you add in components to that suppliers component list you add them in in the currency of that supplier but AwardPro converts the currency to your currency for costing purposes based on the exchange rate you have set.

So: You add supplier components in the currency they quote in and your purchase orders to those international suppliers is in their own currency but at the costing level AwardPro converts the cost to your currency.

Setting Exchange Rates

System Set Up > Exchange Rates

Press the + button to add a new Currency

Click into the Value column to change the Exchange Rate.

The exchange rate effects component costs of suppliers who deal in the currency of that exchange rate.

Setting a Currency for a Supplier

Cards .> Supplier Cards

Set the Currency for the supplier on their card.

Component Values

Components > Component Editor

When the supplier has been set as an international supplier with a certain trading currency you simply enter the suppliers price directly into AwardPro's component price grid and the system will work out the local currency cost based on the exchange rate.

Suppliers Purchase orders

Components > Orders

When you order form international suppliers the values on the order form will be in the supplier's currency.

Changing the Exchange Rate

System Set Up > Exchange Rates.

Currencies change regularly and you can change them as often as you wish. This will automatically directly effect the sell price of any product that has any components purchased from suppliers who deal in the currency you are changing.

Currency fluctuations may be treated as win some lose some swings until there is a big change to save adjusting retail prices regularly.