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How to switch between currencies when creating a purchase requisition or a purchase order.

Shearvon Devenish
We are in the Caribbean (island of Saint Lucia)​ where we use the Eastern Caribbean Dollar (ECD) and when we purchase from US companies, we can't switch between EC$ and US$ or to any other currency for that matter. Does anyone who works with dual currencies have this challenge and if so how do they deal with it?   Our inventory is kept in EC$ as our default culture.   Keep in mind, even though you set united states as the culture for the US vendors, it still shows EC$ on the line item field.   See the attached image.
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Mark Whitmore

Hi @Shearvon Devenish​ ,

 

This is a really good question so thank you for raising it.

 

As your P&L is in a single currency (Property currency) all PRs and POs will be seen at property in that currency.

 

However if you have set-up the vendor with their own currency (Vendor Currency) then as long as the PO is being sent via email they will receive the PO in their currency.

 

This is converted via the Currency Convertor within the system.

 

I hope this answers your question.

 

Best

Mark

Fourth

Mark Whitmore

Hi @Shearvon Devenish​ ,

 

One further amendment. If you have quotes in the system, the Vendor Price on the PR screen will show in the Vendor’s currency.

 

In your screen capture example, the Product Number is in orange because there is no quotation; therefore, both prices just show in the property currency.

 

Hope that helps.

 

Best

Mark

Fourth

 

Shearvon Devenish

Hi Mark,

 

Thanks for the feedback.

 

While the vendor currency can convert the price to the Vendor's currency, it does not change the abbreviation for that currency, which causes confusion during receiving and for payments (Accounts Payables).

 

We need to be able to clearly illustrate US$ and EC$ or XCD$ just to name a few. This is a critical upgrade that FOURTH should pay attention to if it wishes to expand from an inventory ​system to one capable of doing Purchasing and Receiving's able to integrate with financial systems.

 

Best Regards,

Shearvon Devenish

(758) 485 4080 

Mark Whitmore

Hi @Shearvon Devenish​ ,

 

Thank you for your suggestion. Your Customer Success Manager has raised this as an idea with our Product Development Team and can keep you updated.

 

Best

Mark

Fourth

Anonymous User

Hi,

 

when we create purchase purchase requisition its came with Euro currency.we needed it with saudi riyals.please advice to me.

 

Anonymous User

Hi Indika,

 

Thank you for the query.

 

You can change the language and the currency as you prefer in your system. Go to Property > Administration > Property Preferences > Languages

 

Also please see the below article which can help you with more details. Please refer the ‘Languages’ section.

 

https://fc.force.com/customer/s/article/Purchasing-Inventory-Administration-Property-Preferences-General-Languages-Customisation

 

Thank you.

 

Thank you,

Rimzan

Fourth

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