Defining Currency Types

The foreign currency functionality in Aptify requires that each transaction is associated with a currency type. The Currency Types service defines the currencies that the organization supports. For each organization, one currency is specified as its functional currency; this is the main currency in which the organization operates. The system converts funds in other currencies to an organization's functional currency as needed.

Also, Persons and Companies in Aptify can be assigned a preferred currency, which may or may not different from a particular organization's functional currency.

This topic contains the following sub-topics:

• Creating a Currency Types Record
• Defining a Functional Currency Type
• Editing Exchange Rate Account Numbers
• About Preferred Currency