How to add a new Foreign Currency
Guidance on how to add a new currency in the Sage Pastel software.
(Guide for Pastel Partner 14, but older versions will loosely follow the same method).
This guide only applies if you are licensed for the 'Multi-Currency' add on module. Currencies are not available in the base version of the software.
Please note, Multi-Currency is not available in Pastel Xpress.
- To begin, go to 'Setup > Company Parameters'.
- Now go into the 'Multi-Currency' tab, this is where your current currencies settings are.
- You need to fill in the next available row for the currency you want to set up. The description, the revaluation account to use, the variance percentage (this means the maximum amount you can change the exchange rate to, for example if the exchange rate is 1.5 and the variance percentage is 5%, you cannot make the exchange rate go higher than 1.575), the separate, the decimals and the currency Symbol.
- Once you have created your currency, you now need to set the exchange rates. Go to 'Edit > Exchange Rates'
- Fill in the average exchange rate per period in the grid here (you can change the exchange rate at the time of the transactions (invoice, journal, etc) to be more accurate - this is just a period average).
- You will now be able to setup customers, suppliers, general ledger accounts and bank accounts with your new currency.
Related Articles
How to add a new Bank Account
Guidance on how to create new bank accounts, ready for cashbook processing. (Guide for Pastel Partner 14, but older versions will loosely follow the same method). You will first need to create the bank account as a General Ledger account. Part 1): Go ...Starting a new company using existing accounts
Pastel Partner - Creating a new company, but using your existing accounts and set up (Guide for Pastel Partner 14, but older versions will loosely follow the same method) If you are going to be managing another companies accounts and you want to ...Registering your Sage Pastel software as a Single User / Server
Guidance on how to register your Sage 50c Pastel software. (Guide for Sage 50c Pastel Partner 19, but older versions will loosely follow the same method). How to register as a Single User / Server machine: You need to log in to the machine that ...VAT Filer upload and submit
How to upload your VAT return figures and submit them with MTD Before you can submit your VAT figures, you will need to prepare an excel sheet with your VAT totals for each box. Attached in this guide is an excel file (see bottom of page or [Click ...Converting Your Pastel Data
Guidance on how to convert your Sage Pastel data to a later version (Guide for Pastel Partner 14, but older versions will loosely follow the same method). If you need to convert your data, you will need to first register your software. Please see ...