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calculating purchase currency

By
Dale
on 4/9/14, 12:47 PM 903 views

Can someone please assist me with this setup if possible.

I am operating in ZAR. I have set my ZAR currency as Base and I have set the currency rate to 1.000000. I will be purchasing from a U.S supplier and so I have set the USD currency to the current rate of 10.4587.

I have created a USD pricelist for purchase and based it on the Cost Price of my products. When I do a purchase order using the USD pricelist I want to see the USD price I pay for the item. I.e. A ZAR product at 1000ZAR should be equal to 95.614USD. However the calculation in the price list MULTIPLIES the currency and not divides. So I am getting 10485.70USD instead.

Must I change the currency or the somehow adjust the formula to arrive at the correct rate or have I got the whole thing wrong?

Thanks

0
Dale
On 4/16/14, 5:05 PM

So the answer is, when I enter my currency I need to enter it not as at the rate at which I buy it for (in my case R10.05 per USD) but rather as how many USD's are in 1 of my currency (ZAR). Obviously. Silly question, hope this helps someone else in my position

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Asked: 4/9/14, 12:47 PM
Seen: 903 times
Last updated: 3/16/15, 8:10 AM