Chapter 6_Multicurrency Phase III

This chapter describes Phase III of Multicurrency.
This chapter contains the following sections:

• [Multicurrency

• #Multicurrency][Cinch Multicurrency

• #CinchMulticurrency][Areas not Included in Multicurrency

The Currency list button on windows changes the currency view so you can display multicurrency transactions in the originating or the functional currency.
Shortcut buttons to view currencies are:

• View Functional Currency = CTRL + U
• View Originating Currency = CTRL + O
• View Reporting Currency = CTRL + R

Cinch Multicurrency
Cinch supports the ability for Multicurrency to be enabled and to be used throughout Cinch.

You must setup a functional currency, even if you're not using Multicurrency.

Multicurrency within Cinch.

• It is required that the Functional Currency on GP's Multicurrency Setup window be defined (Tools>Setup> Financial>Multicurrency).
• Enable Cinch Multicurrency, mark the Enable Multi-Currency checkbox on General Setup. This will activate both the Currency ID field and Multicurrency List Icon within Cinch windows.
  • Enabled
    • Currency ID will default from the Customer Maintenance Options, Currency ID but is editable. If the customer does not have a currency defined, user will be required to select one.
    • Multicurrency List Icon will allow the user to toggle between functional and originating currencies.
  • Disabled
    • Currency ID will default to the Functional currency defined in Multicurrency Setup.
    • Multicurrency List Icon will not display
• Posting Setup
  • Mark the Include Multicurrency Info checkbox on Posting Setup for both originating and functional values to be captured on the posting journals.
• Exchange Rate
  • The Exchange Rate is captured when a transaction is created.
  • When a transaction is processed that generates a GL transaction, the system will capture and lock the cost and exchange rate based on the transaction date (example scale ticket posting).
  • Further processing of a transaction (example processing a settlement) will capture and lock the cost and exchange rate based on the transaction date and a realized gain/loss will be calculated between the transaction costs due to the exchange rate.
• Ticket Owner Spot Price
  • Within the Ticket Owner for a Split Scale Ticket, Spot Price will inherit the currency from the ticket. If user needs to spot a split partner in a different currency the contract will have to be manually created then applied.

Cinch version 12.3 includes multicurrency enhancements to Commodity Trading, Mark to Market and Cinch Reports.

• Commodity Trading
  • The Currency ID will default from the selected Broker and the Exchange Rate is captured when a transaction is created.
  • Trades will capture matching exchange rate based on the Matching Date to calculate the functional values for the General Ledger transactions.
  • Long Short Reconcile and Long Short Reconcile Inquiry will display originating values.
  • Item Long Short Inquiry will display functional values.
  • Long Short Inquiry, Detail inquiries will display functional values.
• Mark to Market
  • Mark to Market Reports have not changed.
    • The following information has been added to the temp table, IRGNMarkMarketLINETEMP, which will allow a multicurrency user to create or modify a report.
      • IROrigContractPrice – The originating value of the contract at the time it was entered.
      • IRNewContractPrice – The new functional value of the contract at the time the Price Schedule was entered.
      • Currency ID – The Currency ID on the Contract.
      • Currency Index – The Currency Index on the Contract.
      • Exchange Rate – The new Exchange Rate at the time the Price Schedule was entered.
      • IRCtrExchangeRate – The Exchange Rate at the time the Contract was entered.
      • Prices that are calculated and stored in the table are based on the Weight UOM from the item.
• Cinch Reports have been updated as follows:
  • Values will be displayed in the originating value entered on the transactions.
  • Reports that subtotal a value will be subtotaled by Currency ID.
  • If reports do not subtotal a value the Currency ID will be displayed on the transaction line in order to distinguish between currencies.
  • To bring multiple currencies to a common value, all totals except the Currency Totals, will be displayed in Functional Currency.
  • The following reports currently have not been updated with multi-currency information:

Cinch Reports have been updated to work with multicurrency. Modified Cinch reports will be effected.

Areas not included in Multicurrency
Below are areas of Cinch not multicurrency enabled in Phase III.

• Option Price Schedule Entry (Transactions>Cinch Grain>Commodity Trading>Option Price Schedules)
• Assign Shipments – (Transactions>Cinch Grain>Sales\Outbound>Assign Shipments)
• RCA Functionality
• RFD Markup Maintenance – (Cards>Cinch Sales>RFD Markup Maintenance)
• Uninvoiced Shipments – (Transactions>Cinch Grain>Sales\Outbound>Uninvoiced Shipments)
• Credit Limit Inquiry – (Inquiry>Cinch Sales>Credit Limit Warning)
• Credit Limit Override Inquiry – (Inquiry>Cinch Sales>Credit Limit Override Inquiry)
• Customer Balance Inquiry – (Inquiry>Cinch Sales>Customer Balance)
• Bookings Inquiry List – (Inquiry>Cinch Sales>Booking Inquiry)
• Item Long Short Inquiry, currency portion displays functional values.
• Purchase Load Inquiry – (Inquiry>Cinch Grain>Sales/Outbound>Purchase Load Inquiry)
• Shipment Invoicing, by design will not support multicurrency
• Cinch Savings & Loan
• Cinch Portal
• Cinch Insight
• Cinch Patronage