Friday, March 28, 2008
MISys SBM Currency. One of the lesser-known features of MISys SBM, but of critical importance to companies operating in a global economy, is the ability to create multi-currency purchase orders. MISys SBM maintains a table of foreign (aka source) currencies and the current exchange rate to your home (aka functional) currency. When the multi-currency capability of the program is enabled, you can create a purchase order for any of the available currencies. The program will print the PO in the selected currency, but it can display the PO in either the functional or source currency. The applicable exchange rate is stored within the purchase order, so subsequent changes to the exchange rate do not affect an order once it is issued. Maintaining accurate exchange rates is easy, too. Because MISys SBM is a Microsoft .Net-based product, it can update its table of currency! exchange rates automatically from those published by the US Federal Reserve Bank. Cool!