The standard functionality in IFS Cloud supports inverted currency rates only for EUR, which is configured as inverted by default. For other currencies, the "Inverted Quotation When Reference Currency" field on the Currency Codes page is not editable. However, some customers have business requirements to maintain inverted currency rates for specific currencies. Therefore, clarification is required on the recommended approach and available configuration options to support such scenarios within IFS Cloud.
The R&D team has provided a more convenient method for making a Currency Code Inverted by using Company Templates.
Steps to Follow
- Open the Company Templates page, filter for the STD template, and use the Copy Company Template command to create a new template based on STD.
- Open the newly created Company Template and select Company Template Component.
- Select the Accrul component and then open Company Template LU.
- Select the Currency Code LU and open Company Template Detail.
- Navigate to the relevant Currency Code, set the Inverted field to True, and save the changes.
- Create a new company using the Company Template you created. Once you navigate to the Currency Code page, you can verify that the selected Currency Code is now Inverted. This is the simplest and most efficient way to configure the inversion setting.
Recommendation
Changing the Inverted setting after a company has already been created requires significant effort. To do so, the Currency Code must first be removed and then added again. However, deleting a Currency Code requires removing a considerable amount of related information and configurations, making the process both complex and time-consuming.
Therefore, using Company Templates to configure the Inverted setting during company creation is the recommended approach for this requirement.
