How to set the Currency Conversion Rates in Apex?

How to set the Currency Conversion Rates in Apex?

Apex PMS allows for multiple currencies to be utilized.

In order to charge, post payments, or do Foreign Exchange in Apex PMS, accepted currencies need to be defined as well as the exchange rates.

To add currencies that are accepted or to update exchange rates follow the below steps:

New Currencies and Currency Conversion Rates
  1. Navigate to Administration > Front Office Codes > Currency Codes
  2. To add a new currency, click on the "ADD" button and complete the below fields under the General Tab.
  3. To edit a currency, select the currency you would like to update and click on "CHANGE".
General Tab
  1. Code: Enter the 4 Character code.
  2. Name: Type in the description of the currency i.e. Rand, United States Dollar, etc.
  3. CRS Code: Enter the Central Reservations System -CRS- currency code (only if integrated to Apex).
  4. Use as CRS Default: When ticked it will default that all transaction currencies received from the CRS (i.e. rand, dollars, pounds) will display under this specified currency code.
  5. Divide by: Only tick if the currency is weaker than the default currency.
See the example below of the configuration settings of a weaker currency where the "divide by tick" will be used.
PLEASE NOTE if this is NOT used the digit rounding is set to 4 for all Forex rounding.

  1. Banking Sequence: The order of currencies that will appear on the employee banking.
  2. GL Code: General Ledger code (if an accounting system is integrated to Apex)
  3. Current Exchange Rates:
    1. Folio Rate - used when posting rate: The current rate for the currency (excluding commission) charged when posting transactions on a guest folio.
    2. Exchange Rate – when exchanging money: The current exchange rate (inclusive of exchange commission) used by the property.
  4. Future New Rates: The future rate will automatically update when the End of Day is run.
    1. Change on Date: Select the date when a user is changing the currency.
    2. New Exchange Rate: Type in the new exchange rate (inclusive of commission).
    3. New Folio Rate: Type in the new rate to be used when posting charges on guest folios (No commission included).
WARNING: Don’t change the rate in the middle of the day!
Currency Conversion Examples
  1. When the Default currency is stronger than the currency it is converting to, the Divide By flag must be activated. 






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