Currency Management

Skyware Systems has the ability to allow multiple currencies to be accepted at your Property.   The Currency Management screen allows you to enter the current currency exchange rates, allowing you to view or update the rate as compared to the system's default currency. (By default, unless specified differently on the Currency Codes screen, Skyware assumes the default currency used is (American) Dollars). Rates can be changed on a daily basis.  When posting to a folio, you are able to post in different currencies, but they are always converted to the Property's default currency.  The statement reflects both the property's default currency and the folio's currency.

Note: The Currency Management screen is used in conjunction with the Currency Codes screen. While the exchange rates are MANAGED using the Currency Management screen, the Currency Codes screen is used to identify the TYPES of currencies accepted at the Property. You will need to have entered the currencies accepted at your Property using the Currency Code screen BEFORE you can enter the current exchange rate for any currency.

 

The Currency Management command is found in the Manager's Commands Screen area, which contains features that are typically used by a Manager, rather than a regular Staff member. You may edit the configuration to suit your Property at any time IF you have the appropriate access/authorization. This attribute may only be customized in Skyware if you have the authorization to do so.

 

 

 

 

From the Full Menu => Other section, click Manager's Screen.

 

Click the icon on the left or the words on the right for the Full Menu.

Full Menu Icon

This will display the Full menu in a tabular form, with four sections, Registration, Status, Cashier and Other.

Full Menu Table

Select Other from the Other section.

Other section of the Full Menu

This will take you to the Other Front Desk Tasks menu, which has four sections, Other List 1, Other List 2, Documents and Web.

Other Front Desk Tasks Menu

Select Manager's Screen to be taken to the Manager's Command screen.

Manager's Commands Menu

OR:

Select Manager's Screen from the Quick Menu on the left side of the screen, to be taken to the Manager's Command screen.

Quick Menu with Manager's Screen option selected

 

The Manager's Command screen menu has two sections, Manager's Configuration and Manager's Maintenance.

Manager's Commands Menu Screen

Select Currency Management from the Manager's Configuration section.

Manager's Configuration section of the Manager's Commands menu with Currency Management command selected

 

When selected, the Currency Management screen will open.

Currency Management screen

The screen display is split into two frames, with the left side of the screen listing any currencies that have been designated as having an exchange rate OTHER than 1:1 with the default currency on a specific date, and the right side containing the fields you need to complete in order to add or edit an exchange rate difference. Any changes made on the right, once saved, will be updated in the listings to the left. Once an entry has been saved for a particular date, the exchange rate is set within Skyware for the specified currency from that date onwards, until it is deleted or another entry for the currency is added.

Note: The default currency (American dollars if not otherwise specified) is not shown as available for alteration, and is assumed as "1" (1:1 with the actual currency rate). Any other currencies that are accepted by your Property will be available for selection; if an entry is not saved for a particular currency for a date, the exchange rate for that currency is also assumed to be 1:1 (in other words, the same as the default currency).

 

The currently configured options are displayed by:

Date: The system date selected for the currency exchange rate to begin being applied.

Currency: The name of the currency code the exchange rate has been applied to.

Factor: The amount of the exchange rate as a factor of 1 (the number entered into the exchange rate field, representing how much 1 of the currency is worth compared to 1 of the default currency).

 

Your options include the following:

Generate a new entry:

Click the New Generate New Entry button button from the toolbar to add a new Currency Management entry.

Complete the fields described below.

OR:

Select an existing Currency Management entry from the list on the left, and click the Replicate Replicate Current Entry button button from the toolbar. Then change the field information as described below.

Edit the current selection:

Change the field information described below.

Note: Selecting any Currency Management entry on the left will display the details on the right. HOWEVER, doing so will only allow the exchange rate to be altered, the system date and the currency type will NOT be available for altering. To alter these fields you must generate a NEW entry.

Currency Management screen right side detail for editing purposes

System Date: Select the date to begin applying the Exchange Rate to the Currency. Use the drop-down menus or the calendar icon to select the Date you wish. By default the date selected is today's (system) date.

Note: The selected date will be the SYSTEM date, which is not necessarily the current actual date.

Currency: This is a drop-down menu of available currency types to select from. This list will NOT contain the default currency option. If the desired currency is not available in this list, it may be added using the Currency Codes screen found in the Property and System Configuration area of Skyware.

Exchange Rate: Enter the exchange rate to be used in this field, as a factor of 1, where the default currency value is 1. (If the currency in question is worth less than the default currency, the exchange rate entered will be more than 1. If it is worth more than the default currency, it will be below 1. For example if there are 2 CDN dollars for every 1 default currency, the exchange rate should be entered as 2. If however there are 2 default currency to every 1 CDN dollar, the exchange rate should be entered as 0.5).

Once the information has been entered, click the Save button (Save button) in the local tool bar. The entry will appear on the left side of the screen.

Currency Management screen example showing new data entry on the left

Note: Any currency entered into Skyware as being accepted at the Property but without an entry on the Currency Management screen will be assumed to be of the same value as the default currency at a 1:1 rate.

 

Date Updated May 05, 2022