Currency
Overview
Currency — Business Overview
Currency is a foundational setup document that defines the different currencies your organization uses in its daily operations. It stores essential information such as the currency name, symbol, and fraction unit (for example, dollars and cents). This information ensures that all financial transactions across Dafater are recorded, displayed, and reported accurately.
What Currency Is Used for in Business Operations
Currency allows your organization to:
- Conduct transactions in multiple currencies with customers, suppliers, and partners
- Ensure amounts are displayed correctly on invoices, receipts, reports, and statements
- Maintain consistency in how money values are calculated, rounded, and communicated
- Support international or multi-country operations without confusion or manual adjustments
In short, Currency ensures financial clarity and standardization across the business.
Prerequisites and Setup Requirements
Before using Currency effectively, you should:
- Identify all currencies your business needs (local and foreign)
- Decide which currency will be your primary or base currency
- Confirm correct symbols and fraction units for each currency to match legal and market standards
This setup is typically completed once during initial system configuration, but it can be updated as the business expands into new markets.
Typical Workflow and Business Fit
- Create Currency records for each currency the business will use
- Select the appropriate Currency when setting up companies, customers, suppliers, price lists, or accounts
- Use the Currency automatically in transactions such as sales, purchases, payroll, Dafater, and reporting
Once configured, Currency works quietly in the background, ensuring all monetary values align with business and regulatory expectations.
Key Business Scenarios Where Currency Is Essential
- International sales or purchases where customers or suppliers operate in different currencies
- Multi-country operations requiring localized pricing and financial reporting
- Financial reporting and analysis where accurate currency representation is critical
- Contracts, loans, or payroll that specify amounts in a particular currency
Without proper Currency setup, these processes can lead to errors, misunderstandings, or compliance issues.
Important Considerations for Users
- Currency definitions should be accurate and standardized before live transactions begin
- Changes to Currency settings can affect how amounts are displayed across the system
- Adding new currencies should be planned carefully, especially when dealing with historical data
- Currency works closely with exchange rates, so both must be aligned for reliable financial outcomes
In summary, Currency is a core business setup that enables accurate, professional, and compliant handling of money across all Dafater operations. It provides the foundation for trustworthy financial transactions and reporting, especially in multi-currency environments.
Currency list stores the currency value, its symbol and fraction unit
Basic Information
- Module: Geo
- Document Type: Setup
Fields
| Field Name | Label | Type | Required | Options | Description |
|---|---|---|---|---|---|
| currency_name | Currency Name | Data | ✓ | - | Official currency name used across Dafater transactions and reports |
| enabled | Enabled | Check | - | Enable or disable this currency for use in Dafater | |
| fraction | Fraction | Data | - | Name of the fractional unit of the currency | |
| fraction_units | Fraction Units | Int | - | Number of fractional units per whole currency | |
| smallestcurrencyfraction_value | Smallest Currency Fraction Value | Currency | - | Lowest payable fractional value supported in Dafater | |
| symbol | Symbol | Data | - | Currency symbol displayed in Dafater documents | |
| symbolonright | Reverse the Currency Symbol position | Check | - | Display currency symbol on the right side of amounts | |
| number_format | Number Format | Select | , #,###.##, #.###,##, # ###.##, # ###,##, #'###... | Defines how currency amounts are formatted and displayed |
Permissions
| Role | Read | Write | Create | Delete | Submit | Cancel |
|---|---|---|---|---|---|---|
| Accounts User | ✓ | |||||
| System Manager | ✓ | ✓ | ✓ | ✓ | ||
| Sales User | ✓ | |||||
| Accounts Manager | ✓ | |||||
| Purchase User | ✓ |
Related DocTypes
| DocType | Relationship | Module |
|---|---|---|
| Account | Linked from | Accounts |
| Account Closing Balance | Linked from | Accounts |
| Additional Salary | Linked from | Payroll |
| Advance Payment Ledger Entry | Linked from | Accounts |
| BOM | Linked from | Manufacturing |
| BOM Creator | Linked from | Manufacturing |
| Bank Clearance | Linked from | Accounts |
| Bank Reconciliation Tool | Linked from | Accounts |
| Bank Transaction | Linked from | Accounts |
| Bulk Salary Structure Assignment | Linked from | Payroll |
| Company | Linked from | Setup |
| Currency Exchange | Linked from | Setup |
| Customer | Linked from | Selling |
| Dashboard Chart | Linked from | Desk |
| Delivery Note | Linked from | Stock |
| Dunning | Linked from | Accounts |
| Employee | Linked from | Setup |
| Employee Advance | Linked from | HR |
| Employee Benefit Application | Linked from | Payroll |
| Employee Benefit Claim | Linked from | Payroll |
| Employee Grade | Linked from | HR |
| Employee Incentive | Linked from | Payroll |
| Employee Promotion | Linked from | HR |
| Employee Tax Exemption Declaration | Linked from | Payroll |
| Employee Tax Exemption Proof Submission | Linked from | Payroll |
| GL Entry | Linked from | Accounts |
| Global Defaults | Linked from | Setup |
| Income Tax Slab | Linked from | Payroll |
| Item Price | Linked from | Stock |
| Job Applicant | Linked from | HR |
| Job Opening | Linked from | HR |
| Journal Entry | Linked from | Accounts |
| Leave Encashment | Linked from | HR |
| Number Card | Linked from | Desk |
| Opportunity | Linked from | CRM |
| POS Invoice | Linked from | Accounts |
| POS Profile | Linked from | Accounts |
| Payment Entry | Linked from | Accounts |
| Payment Ledger Entry | Linked from | Accounts |
| Payment Request | Linked from | Accounts |
| Payroll Entry | Linked from | Payroll |
| Price List | Linked from | Stock |
| Pricing Rule | Linked from | Accounts |
| Process Statement Of Accounts | Linked from | Accounts |
| Promotional Scheme | Linked from | Accounts |
| Purchase Invoice | Linked from | Accounts |
| Purchase Order | Linked from | Buying |
| Purchase Receipt | Linked from | Stock |
| Quotation | Linked from | Selling |
| Retention Bonus | Linked from | Payroll |
| Salary Slip | Linked from | Payroll |
| Salary Structure | Linked from | Payroll |
| Salary Structure Assignment | Linked from | Payroll |
| Sales Invoice | Linked from | Accounts |
| Sales Order | Linked from | Selling |
| Subscription Plan | Linked from | Accounts |
| Supplier | Linked from | Buying |
| Supplier Quotation | Linked from | Buying |
| System Settings | Linked from | Core |
| Timesheet | Linked from | Projects |
| Web Form | Linked from | Website |