Please visit our video tutorial at: Powerful and Comprehensive Multiple Currency Options
Track Values in Alternate Currencies
The Track Values in Alternate Currencies feature offers Artsystems Pro users the possibility to Link and view up to six (6) alternate (foreign) currencies with fixed conversion rates defined by users in Edit>Related Lists>Currencies. Links may be set or Unlinked at any time (to check current conversion rates refreshed from the Internet or to round up a Sales Price) -- when entering a new work, reviewing a work record, or creating a Transaction. For example, a new Retail Value may be added for each currency market as $10,000 or £8,000 or 7,500€ regardless of their true conversion relationship to each other. This breaks the Link and overwrites the previous linked Value. Users can Link the Value again to see the previous Value. Alternate Values automatically populate Offers and Invoices made in that currency.
Check the Track Values in Alternate Currencies box to set up the Alternate Currency fields that will appear on a Work's Detail>Value Tab There are six Value Types available.
NOTE: The Use non-local currencies for Works feature is set in Preferences>Modules>Transactions. This setting can integrate with the Track Values in Alternate Currencies feature. With both features turned ON, the Work's Financials are set as a Fixed Alternate currency rather than the workstation's HOME currency specified in the computer's Regions and Languages setting. The Track Values in Alternate Currencies feature can adjust to display alternate Retail Values instead of the workstation's HOME currency.
Scenario 1
Artsystems Pro users NEITHER wish to use the Track Value in Alternate Currencies feature NOR the Use non-local currencies for Works feature. There will be no change to a Work>Value Tab or Work>Financial Tab. Work>Financials will be calculated based on the HOME currency as defined in the workstation's Regions and Languages.
(Preferences>Modules>Works>Currency UNCHECK the Track Values in Alternate Currencies box)
(Preferences>Modules>Transactions UNCHECK the Use Non-local currencies for Works box)
NOTE: With these two features turned OFF, an Invoice Transaction can be created in an Alternate Currency on a case-by case basis from the Invoice Transaction form. In this case, both the Alternate Currency and the HOME currency columns will appear on the Invoice Transaction.
Scenario 2
Artsystems Pro users DO wish to use the Track Value in Alternate Currencies feature, but do NOT want to use the Use non-local currencies for Works feature.
(Preferences>Modules>Works>Currency CHECK the Track Values in Alternate Currencies box)
(Preferences>Modules>Transactions UNCHECK the Use Non-local currencies for Works box)
Example of the Works>ValueTab with Track Values in Alternate Currencies ENABLED showing the additional Alternate Linked Values. fields for GBP and USD.
Example of the Works>Financial Tab with the Use non-local currencies for Works DISABLED. There is NO checkbox next to the Orig. Cost field. The Orig. Cost is selected as GBP, but the Work's Financials are still CONVERTED to the HOME currency of Euro as defined in the workstation's Regions and Languages.
Example of Alternate Retail Values to choose from when creating an Invoice Transaction.
NOTE: Only the chosen Retail Value will appear on the Invoice Transaction; the user's HOME currency will NOT appear on the Invoice Transaction
Scenario 3
Artsystems Pro users do NOT wish to use the Track Value in Alternate Currenciesfeature, but DO want to use the Use non-local currencies for Works feature.
(Preferences>Modules>Works>Currency UNCHECK the Track Values in Alternate Currencies box)
(Preferences>Modules>Transactions CHECK the Use Non-local currencies for Works box)
Example of the Works>Value Tab with Track Value in Alternate Currencies DISABLED. There are NO additional fields added to the screen.
Example of the Works>Financial Tab with the Use non-local currencies for Works ENABLED. There is a new checkbox next to the Orig. Cost field. The non-local currency must be selected from the drop-down list and then the box will appear to be checked. This allows you to enable this feature on a Work by Work basis. The result of checking the box is that this Work's>Financials are now BASED on GBP instead of the HOME Euro as defined in the workstation's Regions and Languages.
Example of an Invoice Transaction with the Use non-local currencies for Works ENABLED. The HOME currency column will NOT appear on the Invoice, only the chosen non-local currency. In the screenshot below, GBP is selected on the Work's Financial screen and the Invoice is created with GBP.
Scenario 4
Artsystems Pro users DO wish to use the Track Value in Alternate Currencies feature and DO want to use the Use non-local Currencies for Works feature.
(Preferences>Modules>Works>Currency CHECK the Track Values in Alternate Currencies box)
(Preferences>Modules>Transactions CHECK the Use Non-local currencies for Works box)
Example of the Works>Value Tab with Track Value in Alternate Currencies ENABLED showing the additional Alternate Linked Values. fields for GBP and USD.
Example of the Works>Financial Tab with the Use non-local currencies for Works ENABLED. There is a new checkbox next to the Orig. Cost field. The non-local currency must be selected from the drop-down list and then the box will appear to be checked. This allows you to enable this feature on a Work by Work basis. The result of checking the box is that this Work's>Financials are now BASED on GBP instead of the HOME Euro as defined in Regions and Languages.
Example of Invoice Transaction with both features enabled. You may choose whichever Alternate Retail Value that is available from the Work>Retail drop-down list.
NOTE: The HOME currency column does NOT appear on the Invoice Transaction.
