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Defining Currency Exchange Rate

The exchange rates are also added under Adonis Personnel Manager (APM) > Setup > General Codes, separately for each currency.

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In the system, there can be only one main currency with the exchange rate set to 1. All the other currencies should be added based on how much it would cost you in the main currency for 1 unit in this currency.

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Example:

If the main currency is USD, it will have the exchange rate 1.

The rest of the currencies would follow this logic:

1 THB = 0,02816187 USD1

1 PHP = 0.01818199 USD1

1 KSE = 0.00857511 USD, etc.

! Not vice versa when 1 USD = 35.509 THB.

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Calculation Currency of a Company

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Note

You can set different calculation currencies for different organizations, but remember that there should always be only one main currency with the exchange rate 1 in General Codes. See Defining Currency Exchange Rates.

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The currency that is used depends on the settings under the Adonis Personnel Portal (APP) > Configuration > Travel Expense and WDA > Module Options.

Options explanation

  • Travel Expense Summary Currency:

    • Default - when selected, the default currency set under Module Options is used for all the employees/ crew.

    • Employee Payment - when selected, the currency is picked separately for each employee/ crew from the APM > Payroll > Payment tab.

    • Organization - when selected, the currency is set under the APM > Organization Properties > Payroll > General > Currency Codes is used for all the employees/ crew under this organization.

  • Default Currency - a setting to define the default currency. It contains the list of currencies from the APM > General Codes. Works with the Travel Expense Summary Currency setting.

  • Automatically set currency rate:

    • When ON the rate is filled in automatically based on the above Travel Expense Summary Currency setting.

    • When OFF the rate is empty for manual input.

  • User can override currency rate:

    • When ON the user is able to modify the exchange rate that is populated automatically based on the Travel Expense Summary Currency setting.

    • When OFF the field is disabled for any modifications.

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