VVSD - Introduction to Masters

Master Menu is the menu for the core data that are essential for running the business, provides context for business transactions and operations.

Currency Item

Currency Item - Setup list of Foreign Currencies which bureau transact with.

1. Currency Code

This is the short form of the currency. In the system default currencies all International Standard of currency codes are being used (e.g. KES = Kenya Shillings, AED = United Arab Emirates Dirham, etc). Currency Codes will be used everywhere in the system and not names, the names will only appear in the reports. There are different types of USD that is

USD = USD CASH

USDCHQ = USD CHEQUES

USDMC = USD MASTER CARS

USDTC = USD TRAVELLERS CHEQUES

USDBK = USD BANK

All the above are United State Dollars but are of different Types (Forms). The same thing applies to EUR and GBP also.

2. Currency Name

These are the actual names of the currencies which will be shown in the reports.

3. Bank Currency

Bank Currency is the currency which is parked in your bank accounts. There are 3 bank account currencies EURBK, GBPBK, and USDBK. The currency which is parked in the bank account cannot be called Cash, Cheque, Master card nor Travelers Cheque; it’s a different form of currency which is called BANK CURRENCY (STOCK AT BANK). So wherever there is a bank currency you will find word YES.

4. Associated Currency

This indicates that when a particular currency is transferred to bank, then it should change to a particular bank currency (e.g. associated currency of USD is USDBK, USDCHQ is USDBK, USDMC is USDBK, etc).