Currency WizardCurrency WizardThe Currency policy is used to calculate a foreign currency purchase in local currency. Prices in non-native currency will be converted to native currency so that funds may be encumbered properly.
To ensure proper conversion of non-native to local currency, the library must monitor exchange rates and update the Currency policy as needed.
From List Policies window, you can create, display, modify, copy, or remove the Currency policies. Click Close to exit the wizard.
When you copy a default Currency policy, and attempt to save this new policy, the wizard will display a confirmation dialog box and ask you whether you intend to set this new policy as the default currency. Click Yes to set this new policy as the default currency, or No to keep the current default.
Attributes
The Currency policy contains the following attributes.
| • | Name |
| • | Description |
| • | Acronym |
| • | Symbol |
| • | Decimal |
| • | Comma |
| • | Native |
| • | Exchange Rate |
| • | ISO 4217 Currency Code |
The Name attribute represents a specific currency. This name is ten characters or less, and may not include spaces or punctuation, except for dash (-), underscore (_), and dollar sign ($). Additionally, the pipe character (|) may not be used. The Currency policy is used in vendor records to reflect the currency required for payments to the vendor.
This attribute provides more information about the policy and its use by the library. The description may be up to 60 characters in length. Although the Description attribute may contain spaces and punctuation, the pipe character (|) cannot be used.
The Currency policy acronym is used on orders to represent the type of currency. This field is required.
The Currency symbol appears in front of every amount and helps to immediately distinguish between different currencies. The minus sign and hyphen should not be used as a currency symbol since these symbols also represent a negative sign, which could cause confusion when SirsiDynix Symphony is presenting information about negative currency amounts, such as an over-encumbered fund. The currency symbol can be up to 4 characters long. This field is required.
A decimal character represents a division in an monetary amount, which allows an exact amount to be calculated by counting numerals to the right and left of this character. For instance, in U.S. currency the decimal character is represented by a period ($27.50), but in German currency the decimal character is represented by a comma (27,50). This field is required.
Note: If no native currency is defined, the decimal character defaults to a period.
This attribute represents a repeated division in an amount, separating tens, hundreds, thousands, etc. This field is required.
For example, in U.S. currency the comma (,) represents the repeated division, as in $2,300,000.00. However, in German currency, the period (.) represents the repeated division, as in 2.300.00,00.
Note: If no native currency is defined, the grouping separator defaults to a comma.
Only one of the available currency policy definitions should be identified as the local or native currency. For the policy definition that represents the native currency, select this attribute; all other Currency policy definitions should be cleared. Only one Native Currency policy definition is allowed. If you select this attribute, the client will display a confirmation dialog box that asks if you wish to set this policy as the native currency.
This attribute defines, for each Currency policy definition, the number of foreign currency units in a single native currency unit. Type a decimal value, units/native unit. The exchange rate must be numeric. This field is required.
For example, one unit of the native currency (U.S. dollar) is worth 0.76 British pounds. Type .76 in the Exchange Rate box.
The ISO 4217 currency code is a three-character code that specifies a particular type of currency. This field is not required.
For example, the ISO 4217 currency code for US dollars is USD.
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