Activating / inactivating currency

This page allows you to activate an inactive currency or inactivate an active currency. A currency is usually activated or inactivated based on the business requirements. The status of the currency is updated as “Active” or “Inactive”. The system stores the login ID of the user and the system date along with the modified details.

Select the “Activate / Inactivate Currency” link under the “Organization Setup” business component.

The “Activate / Inactivate Currency” page appears.

Enter the following fields:

ISO Currency Code

Use the drop-down list box to select the code identifying the ISO currency for which you want to modify the details. All the currency codes that have been defined for the company but have not been set as the “Base Currency” or the “Parallel Base Currency” for the company will be available for selection in the alphabetical order.

Note: The system retrieves the details of the currency based on the selected ISO currency code.

Effective Date

The date from which the selected code has been activated or inactivated (Date Format). The date entered in this field must be the same or later than the system date. The system date is displayed by default at the launch of the page.

The system displays the following in the “Currency Information” group box:

Numeric ISO Currency Code	The numeric ISO code identifying the currency
Status	The status of the currency. It could be “Active” or “Inactive”.
Currency Symbol	A unique symbol identifying the currency code. Special characters like “$” would be available here.
Currency Description	A textual description of the currency.
Currency Sub-units	The number of smaller units of denomination, which when grouped together, form one unit of a currency. For Example, 100 cents make 1 dollar. 100 would be available here.
Currency Sub-unit Description	A textual description of the currency sub units. For Example, 100 cents make 1 dollar. Cents would be displayed here.
Number of Units	The number of units of this currency for which the exchange rate is quoted in the foreign exchange market.

Note: You can activate a currency that is in the “Inactive” status.

Click the “Activate” pushbutton to activate the currency.

The system updates the status of the currency as “Active” in the currency entity.

The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.

Note: You can inactivate a currency that is in the “Active” status. You cannot inactivate a currency for which transactions have been posted from the date from which the inactivation is effective.

Click the “Inactivate” pushbutton to inactivate the currency.

The system updates the status of the currency as “Inactive” in the currency entity.

The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.

The system displays the following:

Created By	The login ID of the user who has created the currency.
Created Date	The date on which the currency was created.
Last Modified By	The login ID of the user who has last modified the currency details.
Last Modified Date	The date on which the currency details were last modified.

To proceed, carry out the following

Select the "Attach Notes" link from the bottom of the page to record your observations.