Overview:
When purchasing in foreign currency, the UoM 1 Price in the Material is in the currency of place of origin and the Landed Price is then calculated at the price in AUD dollars including any freight. The UoM 1 Price MUST be checked and/or updated before creating Purchase Order to ensure the Landed Price is accurate with exchange rates.
IMPORTANT:
This set up process must only be completed out of Business Hours. It is recommended to back up the DATA folder before updating to Currency. The DATA is located on the drive where the OPTO folder is located and drill down to OPTO\AppData\DATA.
Step 1 – Set up the Supplier Parameters
Open the CONTACTS tab and click on the Parameter icon (circled below). Set parameter fields as below, the default will be set as AUD.
Step 2 – Set the Print Currency Parameters for Purchasing.
Select PURCHASING on the ribbon and then click the Parameters icon (circled below). On the “General” tab click in the ‘[2] Currency’ box to tick, and click twice in the ‘[3]No Add, Add Duty, Add Duty + Freight’ box to fill with solid colour. 
Open the “Setup” tab and click in the ‘Print Currency Text’ box to tick – press <F9> to save.
Step 3 – Create the Currency Codes
Select CONTACTS on the ribbon and click on the Data Set drop-down arrow then select Currency from the list. Create the required currency codes and press <F9> to save. It is recommended to regularly check and updated the purchase rates to ensure the Landed Price is accurate with exchange rates.
Please note: A list of internationally recognise currency codes can be found on sites such as http://www.iso.org/iso/home/standards/currency_codes.htm
Step 4 – Update the Suppliers Currency Code and Country.
Open the CONTACTS tab and then click Utilities drop-down and then the Update Suppliers from the list.
Select the Country icon , a message will appear to ask if you wish to continue, select ‘Yes’. Select the suppliers to be updated from the list and click on OK. 
Select the Country from the list and click OK
Repeat the process for the Currency
Select Suppliers and then the currency for pop-up lists and then click OK, the update is run on the selected suppliers.
Step 6 – Convert the Purchase Orders and Materials for Currency
Open the INVENTORY tab, and select the ‘Utilities’ drop-down and select Update Materials from the list. Click on the icon for ‘Convert Purchase Orders to Currency’.
A warning appears, click on ‘Yes’ and follow prompts at following messages. 
Then select the ‘Convert Materials to Currency’ icon – the process is similar to the Convert Purchase procedure.
A warning appears, click on ‘Yes’ and follow prompts at following messages. 
Open a Material, and notice the ‘Cur’, ‘Duty’,’ Fre’, columns appear highlighted pink including the ‘UoM 1 Price ‘column and the Landed Pr column show the unit price with the currency conversion. 
Purchase Order printouts will need to be updated to show the currency symbol.
Opto Software Pty Ltd Created: 16/02/2024
