Configuring an item to support foreign currency sell prices

An item is configured to support foreign currency sell prices by recording one of its units of measure as a foreign currency selling unit. In this case, it is common to create an additional unit of measure just for this purpose – for example, if you are an AUD company and want to set a USD sell price for an item, you may create a unit of measure such as “Each (USD)”.

The unit of measure is configured on the inventory management form (Inventory > Inventory ) as follows:

When you select a second (or third) unit of measure, you will now see a currency selector to the right of the unit: click this to select the currency in which this unit of measure is being recorded. You can also set the price (in your selected foreign currency) for the item for that unit of measure. Once this has been configured then you have set up Accentis Enterprise to understand that this item can be sold in an alternate unit of measure that represents a foreign currency price.

Telling Accentis Enterprise when to use a foreign currency sell price

The final step is to tell Accentis Enterprise when you would like to use the foreign currency price.

Simple behaviour using the currency to decide which price to use

When creating Sales quotation, Sales order or Sales invoice, Accentis Enterprise will examine the item you are selling and, if it has a foreign currency unit of measure recorded against it that matches the currency of the customer to whom you are selling, then that is the unit of measure that will be chosen (subject to other settings below).

If you have discount structures configured

When you use Discount structures, you change the way the sell prices are determined because a discount structure will nominate which one of the first, second or third unit of measure to which the discount structure entry applied. That means if you sell an item to a foreign currency customer, where that item has a secondary unit of measure that matches the foreign currency, then the sell price chosen will still be the price that you have set up in the discount structures even if that configuration does not relate to your item’s foreign currency unit of measure.

Configuring discount structures to always use a specified unit of measure for foreign customers

One way to force your Discount structure entries to always choose a specified unit of measure is to set up a discount structure entry that stipulates the unit of measure for that customer.

Here’s where you tell a discount structure entry which unit of measure to apply the calculations to:

Keep in mind, when you do this, you must create a discount structure entry for this customer that has a higher precedence than any other discount structure entry that could apply to this customer (if you don’t, then this entry may be overridden by another).

Be careful not to create a pricing regime in multiple currencies that is too complex. You might find that the easiest way is to have a price list for foreign customers that specifies the foreign price for each item.

Defaulting an item to sell in foreign currency even for local customers

Rather than creating a unique, additional set of discount structure entries to override the local price calculations (as above), an option has been built-in to Accentis Enterprise inventory records that allows you to stipulate the preferred unit of measure to use when selling the item, AND that the preferred unit of measure is to have precedence over any discount structure entries.

To set an item’s preferred unit of measure (if it is not the base unit of measure):

1. Edit the item
2. Hold CTRL and click on the Unit of measure name and you will see a tick box appear

Once this has been done, this will now be the preferred selling unit of measure. The side-effect of this is that it will now also sell in the currency specified and perform a conversion as required, to the currency of the customer of the sales quote, order or invoice.

Setting an item to always use its preferred unit of measure to override discounts

Once you have set a preferred selling unit in Accentis Enterprise, you may still have discount structures in place where some of them apply to other units of measure than your foreign currency unit. In this case, you may also want to set the item’s Default sales unit override all discount structures option that forces Accentis Enterprise to preference the preferred unit of measure in any discount structure calculations.

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Last edit 01/10/19