When you create a new supplier record, you can choose what currency you want to allow this supplier to trade in.
You must already have the currency set up in your database before you can assign a currency to your supplier.
The currency that you set up the supplier record with will be the default currency offered on any purchase transactions, and you will not be able to change the default currency and the currency field will be disabled on all purchase transactions.
You can set up a supplier in any currency that exists in your database.
In Access Dimensions Cloud, the VAT Type on the Settings tab of a supplier record drives whether the supplier is a Home, EU or Non-EU VAT type.
You can set up a Home VAT Type supplier , which means if your database's currency is GBP, then the default currency for the supplier is going to be GBP, and they can only trade in GBP on any purchase transactions.
You can also set up EU or Non-EU VAT Type supplier by selecting these options from the the drop-down list. When selecting EU VAT, you must also select the Country from the country list or alternatively type in the country name, then you can select the currency.
The selection of a country record is used to validate the VAT rates on sales transactions for the supplier and also allows you to be able to select the correct purchase and bank analysis.
To create a currency supplier selecting EU Vat Type
Click Creditors then click Suppliers.
On the Supplier Records screen, click + New Record.
Click the Settings tab.
Set the VAT Type to be EU.
Note: When you select EU VAT Type, you will see a new compulsory field is displayed called Country that you must enter so that the currency can be selected accordingly.
Select as an example BE for Belgium from the drop-down list.
Note: You can set the Currency Code field as EUR.
After entering a code and a name, click Save.
The supplier is set up as a EUR supplier and the default currency offered for purchase transactions will be EUR and you will not be able to change this. If you want your supplier to be able to trade in all currencies, you must set them up as any currency supplier.
To create an any currency supplier selecting Non-EU
Click Creditors then click Suppliers.
On the Supplier Records screen, click + New Record.
Click the Settings tab.
Set the VAT Type to be Non-EU.
Note: When you select Non-EU VAT Type, you will see a new optional field displayed called Country that you can enter or can leave blank.
You might have a county record created for a Non-EU currency that you can assign to the supplier.
Select as an example US for America from the drop-down list.
Note: You can set the Currency Code field as USD.
After entering a code and a name, click Save.
The supplier is set up as a USD supplier and the default currency offered for purchase transactions will be USD and you will not be able to change this. If you want your supplier to be able to trade in all currencies, you must set them up as any currency supplier.