Currency

The Rules Palette allows you to manage multiple currencies within the OIPA system.  The currency information is displayed according to the international standards outlined in the ISO 4217 Currency Names and Codes Element Table.  The Currency Editor is the tool you will use to define and update currencies and rounding methods.  Currency codes cannot be edited.  

Once currency codes are defined in the Rules Palette, they can be assigned to companies or plans.

Note:  If you need to change the decimal displays for currency, you must do this through the Localization Editor.

Add Currency Codes

There may be times when you need to add additional currency codes.  You can do this through the Currency Editor.  The Currency Editor allows you to add new currencies and edit the existing ones.  The information displayed in the currency editor is all stored in the AsCurrency table.  

Once a new currency code is created, you should be able to select it as an option in the Countries Editor under the Taxable Currency Code drop-down box.

Steps to Add a New Currency

1. Open the Admin Explorer window.

2. Double-click the Currency folder.  It will open in the Configuration Area.

3. Right-click on the currency XML file and select Check-out.

4. Click Add at the bottom of the Configuration Area window.  If you can't see the Add button, grab the bottom of the window and pull it down until the Add button is visible.

5. Select a Currency code from the drop down menu.  The corresponding Currency Name will display.

6. Select the number of decimal places to round the currency for display purposes.

7. Select the number of digits to the right of the decimal place to keep after a currency calculation is performed.

8. Select the rounding method to employ once a calculation is performed.

• Automatic Round:  Increases the last digit by one if the next digit is five or greater.

• Round Down:  Leaves the last digit the same, regardless of the next digit.

• Round to Even:  Increases the last digit by one if the next digit is six or more, or a five followed by one or more non-zero digits.  Also will increase the last digit by one if the next digit is five followed by zeros when the last digit is odd.

9. Check-in the XML file to save the changes to the database.

Steps to Update Existing Currency Attributes

1. Open the Admin Explorer window.

2. Double-click the Currency folder.

3. Right-click the currency XML file and select Check-Out.  Each currency row contains five pieces of information.

• Currency Code:  Displays the currency code.  You cannot change code names.

• Currency Name: Displays the currency name.  You can make changes to these names.

• Display Round Places: Determines the number of decimal places the currency will be rounded to for display purposes.

• Currency Round Places: Indicates the number of digits to the right of the decimal place to keep after a currency calculation is performed.

• Currency Round Method: Determines the type of rounding method to employ once a calculation is performed.  There are three options:

• Automatic Round:  Increases the last digit by one if the next digit is five or greater.

• Round Down:  Leaves the last digit the same, regardless of the next digit.

• Round to Even:  Increases the last digit by one if the next digit is six or more, or a five followed by one or more non-zero digits.  Also will increase the last digit by one if the next digit is five followed by zeros when the last digit is odd.

4. Find the name of the currency you want to change in the Currency Name column.  The currency attributes that you can change are in the columns to the right and are accompanied by a drop-down list.   

5. Click the down arrow next to the attribute you want to change.  The currency’s row will appear highlighted in green.

6. Make the necessary currency rounding adjustments.

7. Check-in the file to save the changes to the database.