The ‘Currency’ section of the V5 Control Center allows for different currencies to be set up within V5 Traceability. The system will then use the data here at various points to perform currency conversion to allow purchases and sales to be completed using a variety of different currencies.
Control Center Overview
The ‘Currency’ section can be found under the ‘Setup’ header in Control Center.
This section has 1 main panel:
Main (yellow) panel: Allows the entry and setup of the different currency types that the business may use.
Column Help – Main Panel
Name
Freetext entry to name the currency.
Description
Freetext entry to allow the entry of a symbol against the currency. This will then be used throughout the system to identify which currency is being used for a particular transaction.
Conversion Rate
This works in a similar way to ‘Units’, and is the conversion rate of the currency. 1 currency, often the most commonly used by the business (in this example ‘US Dollar’), should be created first and assigned the conversion rate of 1. From here, all other conversion rates of the other currencies will then calculate from this 1. So, in the screenshot above 1 US Dollar is 1.29 Canadian Dollar, 20.16 Mexican Pesos, and 0.82 Pounds Sterling.
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The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
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