Currencies
Currencies maintains the currency master data used throughout IMS and keeps dated Cost Rate and POS Rate history for non-local currencies. One currency is designated as the system's local currency.
Screen layout
The upper currency grid lists ID, Name, Symbol and whether the currency is Local. Selecting a currency loads its rate history below, ordered from the newest Start Date first.
The toolbar provides New, Edit and Edit Rate.
Currency details
| Field | Purpose |
|---|---|
| Name | English currency name. |
| Ar. Name | Arabic currency name. |
| Symbol | Currency sign/code displayed by IMS. |
| Format | Numeric/currency formatting string used when IMS displays amounts for that currency. |
| Local | Marks the company's local/base currency. |
Local currency
IMS allows only one local currency. When a user tries to mark another currency as Local while one already exists, IMS blocks the save and identifies the current local currency.
When creating a local currency, the currency symbol must also remain unique. The local currency is used elsewhere in IMS to determine the normal local amount format.
Add or edit a currency
- Click New to create a currency, or select one and click Edit.
- Enter the English Name and Symbol; these are required before Save becomes available.
- Enter the Arabic Name and display Format as required.
- Select Local only when this is the company's base currency.
- Click Save.
New currencies receive the next internal currency ID automatically. After save, IMS reloads the currency list and records the add/update action in the audit log.
Currency rates
For a selected non-local currency, click Edit Rate to maintain:
| Rate | Purpose |
|---|---|
| Cost Rate | The conversion rate IMS stores for costing-related use. |
| POS Rate | The conversion rate IMS stores for Point-of-Sale use. |
Both values must be greater than zero. IMS does not open the rate editor for the local currency.
How rate history works
Rates are effective-dated. The grid shows Cost Rate, POS Rate, Start Date and End Date.
- If the currency has no previous rate, saving creates a new rate starting on the current server date with no End Date.
- When the current rate is replaced on a later date, IMS closes the previous open rate on the day before the new rate begins.
- If a rate that already starts today is replaced again the same day, IMS closes the previous record on today's date and creates the new current record with today's Start Date.
This gives IMS a historical sequence of currency rates rather than overwriting the previous values.