Next Generation - Multi Entity and Currency Transfers

Important rules when using sub ledgers and or Multi Entity

When you use Sub Ledgers or Multi Entity and visit the Currency Transfer screen for the first time, the Sub Ledger field is going to default to empty regardless of you having a sub ledger set up for the Nominal Ledger or if the user you are logged into Financials with is assigned a default sales sub ledger in their security profile.
Once you have saved a currency transfer with a particular sub ledger, this sub ledger will be saved against your user as the user preference, so when you open the Currency Transfer screen again, the sub ledger field will be prefilled for you with the previously used sub ledger record.
You can change the sub ledger manually and if you have selected a different sub ledger than on the previous currency transfer, then this newly selected sub ledger will be saved against your user preference.
Your selected sub ledger drives the defaults on the Currency Transfer screen and the Categories will be prefiltered based on the sub leger you are working with.
When you manually type over the default categories tied to the same sub ledger selected on the header, upon clicking Save on the transaction, you will encounter a validation error alerting you that the categories must align with those belonging to the same sub ledger specified on the header.
The project and cost centre that you selected on the Details section for a currency transfer are filtered based on the sub ledger you have used on the Header section of the currency transfer making it easier for you to select a record.

You can post journals between nominal accounts of different currencies by using the Currency Transfer option directly from the navigator or from Cash Book.

To make your transactions easy and consistent, all our transaction entry windows throughout the Nominal Ledger have the same structure.

In this article, we include two tables which take you through both the header and detail tabs and an explanation on each field. These two tabs make up your full transaction.

Once you are done with your data entering, you need to click on the Save button in order to get to the Save Options screen where you can find the following option:

Batch Transaction and when ticked, you also receive a Batch Reference field.

Access Currency Transfer from Cash Book

Click Financials then click Cash Book.
Note: The Cash Book Record List screen opens listing all your nominal bank and petty cash accounts. You can narrow down your search by using the advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the icon and choose from the available filter list, then click OK.
Select the check box next to an account you want to work with.
Note: The Action Panel automatically opens from the right-hand side of the screen.
On the action panel, click Currency Transfer.
Note: The Currency Transfer screen opens for you to enter the details. The bank or cash account that you started your journey on is not pulled through.

Access Currency Transfer directly from the navigator

Click Financials then Transactions and then click Currency Transfer.
Enter the currency, the nominal codes and the values and click on Save.
On the Save Options screen, tick the Batch Transaction option if you don't want to post your currency transfer yet to the selected nominals.

Below is an explanation of how to enter your details on the header and details sections of a currency transfer:

Tabs

Description

Header

You can enter a Voucher Reference for the currency transfer. Please note that the Automatic Transaction Reference option does not apply to currency transfers. For more information on the voucher reference field, please refer to the Nominal Journal Voucher Reference article.

he Date is always default to the system date, you can either enter it manually or you can select it from the date picker via the calendar icon.
The Year and Period fields default to the closest year and period to the current date depending on the system settings. If you have permission to post to restricted periods or have future period posting permission, you're able to post to future periods and past years and periods depending on the start date in your system settings.
The Description field is optional where you can enter more information about the transaction.
The Sub Ledger field is only be visible if you have subscribed to this, and it is set you.
You can manually type in the code or name if you know it, click on the drop-down arrow and select from the list, or find the record by selecting Show More.
Selecting the Revaluation Journal option allows you to post a home currency only transaction to a currency nominal account.
- If this option is selected, then there will be no exchange rates displayed and the currency values field will be disabled and set to zero. The transaction is posted with a home value but no exchanges rate or currency values.
- Once you have entered the detail lines, the Revaluation Journal option will be disabled and cannot be changed.

Detail

Details

Description

Details section

The columns on the Detail section are displayed in and default order, and you can change this to suit your needs better through the configure columns article.
You have to select the currency first then you can enter the rest of the header fields and then the detail lines of your currency transfer.
Nominal Code is compulsory, and the net value of the detail line is posted to this selected or typed in account.
The Nominal Name field is populated after selecting a nominal code or the categories when using Advanced Nominal Ledger.
The Notes field will pull through any notes that you have added to the nominal account you are using on the transaction and cannot be edited on the detail line.
The Exchange Rate field pulls through the most relevant rate for the currency you have selected and can be manually changed. You can search for more records using the Show More option.
The Date field as default pulls through the system date and you can either enter it manually or you can select it from the date picker via the calendar icon.
The Reference field on the detail line is copied from the header Voucher Reference field and can be changed.
The Detail field allows you to add more information against the detail line. You can pop out the Detail field to display more information by hovering over the Detail column name and clicking on the icon.

If you use the Costing module in Access Financials, you can add the project and cost centre. If you have Compulsory Costing set up, you need to enter both the project and cost centre otherwise a validation message appears when saving the order.
Clicking the drop-down in the Project Code/Name field, you can select the record you wish to work with, or you can access more records by selecting Show More.
- Clicking + New Project, you can create a new project which automatically populates in the Project field.
- Clicking + New Cost Centre, you can create a new cost centre. The project automatically populates with the previously created project. You can add the code and name then click Save. The Cost Centre Code/Name field pre populated with the newly created record.
If Transaction User Keys are set up on your database and are in the columns on the Details section, you can see these columns as default after the Project and Cost Centre columns. You can find more information on the Transactions user keys at the end of this article.
- Note: The labels for the transaction user keys are customisable so you might see different labels display.
- You can select a value from the drop-down or enter values into all of the Transaction User Key columns. Any manual values you enter only save for this transaction.
When Sales Ledger Accruals is set up, three columns will be displayed called:
- Accrual Period - This field is pre populated with a number of periods that is set up on the Analysis record you are using and you can change this.
- Changing the number of Accrual Periods on a transactions is only valid for the transaction.
- Accrual Nominal - This may be pre populated with a nominal account if one is set up, and you can change this or add one in.
- Defer Accrual - You can select this if you wish to defer the order.
You can add in extra detail lines by clicking + New Record or by tabbing through an existing detail line. You can organise your columns the way that best suits your needs by clicking the cog icon then selecting Configure Columns.
- On the Configure Columns screen, you can deselect any columns which are available, and you can add any extra fields by selecting the checkboxes. All compulsory columns you can't remove from the view.
- For more information on configuring columns, follow our article on configure column customisation.
When your order entry is completed, click on Save.

Transaction User Keys

If you're using transaction user keys, these display on the detail line of a currency transfer.

For more information on setting up transaction user keys, follow our article on transaction user keys.

For information on attaching a transaction user key to a transaction, follow our article on attaching transaction user keys.

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