Currency Specs

Menu > Tax Data > Currencies > Currency Specs

Use this page to view and manage currency specifications used when ONESOURCE Indirect Tax Determination converts from one currency to another using a configured exchange rate.

The Currency Specs page lets you manage default currency specs for your company, which may serve as a Tax Data Provider, a Custom Data Provider, or as a standalone company.

You can also manage currency specs at the authority level.

The hierarchy of currency specifications is:

• Authority Currency Spec is inherited from the Currency Exchange Data Provider, or this company if a provider is not used.
• Authority Currency Spec is inherited from the Tax Data Provider.
• Default currency spec is inherited from the Currency Exchange Data Provider, or this company if a provider is not used.
• Default Currency Spec is inherited from the Tax Data Provider.
• System-level Currency Spec (from the Currency Specs page).

Before using this page for the first time, please review Currencies.

This page consists of the following areas and their associated tasks:

• Currency Specs List: Select or view data about the currency specs currently associated with the selected authority or company.
• Selected Currency Spec Tasks : Procedures to manage the currency specs, such as:
  • Add a new currency spec
  • Modify a currency spec
  • Delete a currency spec
  • Export a currency spec

Click a link above to go to the procedure. Use the field reference below to enter data for required and optional fields.

Currency Specs List Field Reference
Field	Req?	Description
Currency	Y	The name of the currency you want to configure.
Exchange Rate Source	Y	The Exchange Rate Sources containing the desired exchange rates.
Rounding Rule	Y	The rounding rule: Round, Floor, or Ceiling. For more information, see Rounding Rules.
Rounding Precision	Y	The number of decimal places included. For example, 2 means that 4.05 would be precise, and that 4.053 would be rounded to 4.05. You can enter up to ten digits.
Min Accountable Unit	Y	The minimum accounting unit. For example, in some countries the currency only supports increments of 1/20th of a whole unit - in this case, the minimum accounting unit is .05.
Start Date	Y	The effective start date for this currency spec.
End Date	Opt.	The effective end date for this currency spec. When left blank, the currency spec will not expire.

Currency Specs List

When you select a currency spec from the list, the Selected Currency Spec section is populated with data related to that currency spec.

Selected Currency Spec Tasks

You can use this section to add, modify, or delete a currency spec.

Add a new currency spec

1. Select Add from the Actions menu.
2. Enter data using the field reference below.
3. Click Submit to save your changes.

Modify a currency spec

1. Select the currency spec from the Currency Specs List.
2. Modify data using the field reference below.

Delete a currency spec

1. Select the currency spec from the Currency Specs List.
2. Select Delete from the Actions menu.
3. Click OK to confirm the deletion.

Export a currency spec

You can export the selected currency spec, or all currency spec in the selected currency spec group.

1. Select Properties from the Actions menu.
2. Click one of the following.
   • This Currency Spec to export only the selected currency spec.
   • This Currency Spec and All Siblings to export all currency spec in the selected currency spec.
3. Click Save.
4. Browse to or enter a filename to save to and click Save.

Once you save the file, you can re-import it. See the Importing Data page.