FX Tutorial: Add Foreign Bank Accounts and Price Lists

Before adding foreign bank accounts and price lists, ensure that the foreign currency required has been added in FX Currency.

Add Foreign Bank Accounts

1. Go to Navigator > Maintain > Cash Book > Bank Accounts.
2. Click Insert (F4).
3. Add a Bank Code, Account Name and Account No for the bank account.
4. Select the Currency Code and GL Account. You may want to set up a separate GL account for each foreign bank account.
5. Click Save (F9).

Add Foreign Currency Price Lists

You can set up price lists for Foreign Currency Customers either in the Base Currency, or in the Customer's currency.

If you invoice from a Base Currency Price List, the FX Sell Price will be calculated at the Exchange Rate for the Invoice. This is useful if you have occasional foreign sales and you don't want to publish a Foreign Currency Price List. If you want to add a Foreign Currency Price List, follow these steps:

1. Go to Navigator > Setup > Company > Configuration > Price Lists
2. Click Edit (F11).
3. Click Insert (F4).
4. Add the Price Code, Name and Currency Code. Optionally add a Price No and a Rounding Unit.
5. Click Save (F9).
6. You can then use the Price List Copy to copy an existing Base Currency Price List to the new Foreign Currency Price List at a nominated Exchange Rate. Go to Navigator > Tasks > Inventory Control > Update Prices > Price List Copy
7. Select the Price List - From and Price List - To.
8. Click Run (F9).
9. You will be prompted to enter an exchange rate. Enter the Exchange Rate, then click Run (F9).
10. The Print Dialog will display. Click Run (F9) to show the results on the screen.