SyteLine Multi-Currency Management and Configuration Guide
Multi-currency management in SyteLine enables organizations to transact in foreign currencies while maintaining financial reporting in the base (functional) currency. Customer orders, purchase orders, and AR/AP transactions can be entered in any configured currency, with SyteLine handling conversion at the appropriate exchange rate. This guide covers currency setup, exchange rate management, revaluation processing, and currency translation for consolidated reporting.
Currency and Exchange Rate Configuration
Currency setup begins on the Currencies form (SLCurrencies IDO) where you define each currency code, symbol, and decimal precision. Exchange rates are maintained on the Exchange Rates form, storing buy, sell, and average rates by effective date. The curr_code field appears on customer and vendor records to establish their default transaction currency. SyteLine supports daily, periodic, and spot rate types for different transaction and reporting requirements.
- Define currency codes on the Currencies form with ISO currency code, symbol, and decimal precision settings
- Configure exchange rates on the Exchange Rates form with effective dates for daily or periodic rate updates
- Maintain separate rate types: daily rates for transactions, average rates for P&L translation, period-end rates for balance sheet
- Set default transaction currency on customer records (SLCustomers) and vendor records (SLVendors) for automatic population
- Enable the euro triangulation option in Currency Parameters for currencies requiring cross-rate calculation through EUR
Foreign Currency Transaction Processing
When a customer order or purchase order is entered in a foreign currency, SyteLine records both the foreign amount and the base currency equivalent using the exchange rate at the transaction date. The co and po tables store the transaction currency and rate. At invoicing and payment, any difference between the transaction rate and the payment rate creates a realized gain or loss. The SLARPayments and SLAPPayments IDOs calculate these gains and losses during cash application.
- CO entry in foreign currency converts line amounts to base currency using the exchange rate at order date
- AR invoices record both foreign and base amounts; payment application calculates realized FX gain or loss
- AP vouchers capture vendor invoice amounts in transaction currency with conversion at the voucher date rate
- AP payments to foreign vendors calculate realized FX gain or loss against the voucher exchange rate
- Realized gain/loss posts to the FX gain/loss GL account configured in Currency Parameters
Revaluation and Translation
At period end, open foreign currency balances must be revalued to the current exchange rate. The Currency Revaluation utility recalculates open AR and AP balances using the period-end rate, creating unrealized gain/loss journal entries. For multi-entity organizations reporting in a different presentation currency, the Currency Translation utility translates the entire trial balance from functional currency to the reporting currency using appropriate rate types.
- Run Currency Revaluation at period end to restate open AR and AP foreign currency balances to current rates
- Unrealized gain/loss entries reverse at the start of the next period to prevent double-counting when items settle
- Currency Translation converts the full trial balance: assets and liabilities at period-end rate, equity at historical rate, P&L at average rate
- Translation adjustments (CTA - Cumulative Translation Adjustment) post to a separate equity account on the balance sheet
- Configure the Revaluation and Translation posting accounts in Currency Parameters before first period-end processing
Configure multi-currency processing correctly in SyteLine—schedule a consultation with our global finance experts.
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