Currency Master Documentation

Currencies Currencies are used to manage currency data throughout the system for financial transactions, invoice generation, payment processing, and accounting operations. Each currency includes detailed information such as currency codes, symbols, fractional units, and conversion factors. The system supports one base currency as the default currency for calculations, with multiplication factors used to convert the base currency into other currencies, helping standardize financial operations systematically across the platform.

Accessing Currencies

1. Navigate to the Settings section by clicking the settings icon in the header bar on the left side.
2. Under the Accounting section, click on Currencies

Currency Master navigation through settings menu showing accounting section

Managing Existing Currencies The Currencies page displays all currencies in a table with:

• Currency name (English and Arabic)
• Currency code
• Currency symbol
• Currency fractional unit
• Currency base
• Base currency status
• Multiplication factor
• Status
• Edit action button

You can:

• Add new currencies by clicking the Add New button in the top right corner
• Search across all columns to find specific currencies
• Edit a currency by clicking the edit button in the action column
• Change status by editing and updating the active toggle

Existing currencies grid view showing currency details with base currency indicators and status controls

Adding a New Currency

1. On the Currencies page, click the Add New button in the top right corner
2. In the form, enter:

Basic Information

• Currency (English): Enter the currency name in English
• Currency (Arabic): Enter the currency name in Arabic
• Currency Code: Enter the standard currency code (e.g., USD, EUR, AED)

Currency Details

• Currency Fractional Unit: Enter the fractional unit name (e.g., Cent, Piastre, Fils)
• Currency Symbol: Enter the currency symbol (e.g., $, €, د.إ)
• Currency Base: Enter the base unit value for fractional calculations
• Multiplication Factor: Enter the conversion factor to convert from base currency to this currency
• Base Currency: Check this checkbox to designate this currency as the system's base currency. Only one currency can be set as the base currency at a time

Status Configuration

• Active: Toggle button set to "Active" (default) or "Inactive"

3. Click Submit to create the new currency

Currency creation form showing bilingual fields, currency details, and base currency selection

Currency Configuration Notes

Base Currency

• Only one currency can be designated as the base currency in the system
• The base currency serves as the default currency for all financial calculations
• When a new base currency is selected, the previous base currency status is automatically updated and all multiplication factors reset to 0

Multiplication Factor

• The multiplication factor is used to convert amounts from the base currency to other currencies
• For example, if USD is the base currency and AED has a multiplication factor of 3.67, then 1 USD = 3.67 AED
• This factor enables automatic currency conversion throughout the system

Currency Usage

• Currencies are used in invoice generation, payment processing, and financial reporting
• Active currencies appear in dropdown selections throughout the financial modules
• Inactive currencies are retained for historical data but cannot be selected for new transactions