Updated: June 11, 2021 7:27am

Foreign Currency

RP Prism is designed to be used globally any currency.  Each installation has a Base Currency and any exchange rate calculations for a foreign currency are done against the base currency. For example, a retailer in Hawaii can use US Dollars as the base currency and Japanese Yen as a foreign currency. If the exchange rate is 110 yen to the dollar, then an item that costs USD$10.00 would cost JPY1,100. In Prism preferences, you can define separate "Take" and "Give" exchange rates with different values relative to your base currency. The system automatically calculates the correct amounts to take as payment and return as change in each of the foreign currencies you have defined. Please note that Tender Rounding is not available for foreign currency tender.
The remainder of this topic has information about:

  • Defining currencies and denominations
  • Defining exchange rates between a foreign currency and the base currency
  • Enabling foreign currency tender in Tender Requirements preferences
  • Selecting the desired foreign currency at POS
  • Viewing foreign currency information on X/Z-Out reports.

When you navigate to the Global Preferences > Currency > General area, you will see a list of currencies. You will probably find the currency you need in the list already; however, you can add a currency if needed.
Defining Currencies and Denominations
Add Currency
Most major currencies and each currency's denominations are already defined in Prism. If necessary, you can add a new currency in Global Preferences > Currency > General.

  1. Navigate to Global Preferences > Currency > General.
  2. Click the New Currency button at the bottom of the currency list. Enter details for the currency and save the changes.

Currency list in Global Preferences > Currency > General
Currency list

Currency fields

Field Description
Name Enter the name of the currency.
Abbreviation  (Required) Enter the ISO 4217 currency code for the currency (USD, JPY, EUR, etc.). Three characters maximum.
Discrepancy Enter a discrepancy amount. This is the amount by which Prism will automatically modify the conversion rate, if necessary. This is used when the currency denominations do not match exactly.
Rounding  Select the smallest amount that you want to round to. If you select "No," then you will still round to the number of decimal places assigned to that currency in Node Preferences > Language and Locale.
Decimals Choose the number of decimal places to be displayed for the selected currency: None, One, Two, or Three. Select none for currencies such as the Yen, which do not use decimal places. If the currency does use decimals, select the number used. For example, the US Dollar and Euro use two decimal places.
Loyalty Rate The Loyalty Rate is applied (along with the multiplier) to each total-based program and is meant to be used with foreign currencies that are deemed to be worth less/more in terms of loyalty points than the base currency. The Loyalty Rate is a way of saying, "This is the number of currency units (dollars, pesos, yen, etc.) required to receive one loyalty point. For example, if the program's Earn Multiplier is "1" and in the Currency grid in the line for USD "Loyalty Rate" is set to 2, then it means that "2 USD = 1 Point." On a $100 purchase the customer will receive 50 points. If the Loyalty Rate is set to 3, on a $100 purchase the customer will receive 33 points.
If the Loyalty Rate field is null or blank, Prism will automatically set it to "1."
Active If selected, the currency will be available for selection in drop-downs and other areas of the program. Inactive currencies cannot be used at POS or used on documents.

Add Denominations
Currency denominations are defined for the US Dollar; however, denominations are not defined for other currencies. Add the individual denominations for the currencies that you will use.

  1. Select a Currency in the list.
  2. Scroll down to the Denomination area. Click New Denomination.
  3. In the Bill/Coin field, enter a name or reference for the currency.
  4. In the Multiplier field, enter the multiple, relative to the currency's base amount, then press . For example, for a U.S. penny, the multiplier is .01, because a penny is 1/100 of a dollar. For a Japanese 1-yen coin, the multiplier would be 1
  5. In the Order Number field, enter the denomination's relative order number. For example, for a U.S. penny, the Order Number is 1, because there is no lower denomination. For the U.S. Dollar, the nickel (0.05) would have Order Number of 2.
  6. Click Save and exit.

New Denomination dialog:
new denomination

You can edit or delete denominations, if needed by clicking the appropriate button in the Denomination list.
Denomination list for a currency

Non-Currency Type
The Non-Currency Type indicates that the tender is a non-currency tender. You can optionally list non-currency tenders on Z-Out reports.
Add/Edit Exchange Rates
Each currency can have one or more exchange rates defined. The exchange rates are defined relative to the subsidiary's base currency.

  1. In the Admin Console, go to Preferences & Settings > Global Preferences > Currency > Exchange Rates.
  2. Select a Base Currency and Foreign Currency in the drop-downs. The Base Currency should match the Base Currency used in RIL.
  3. Click New Exchange Rate. Enter details and save. Refer to the fields table for more information.

US Dollar and Yen Exchange Rate

New Exchange Rate screen
New exchange rate
Exchange Rate Fields

Field Description
Effective Date The date the exchange rate becomes active. The rate will remain effective until another exchange rate for the pair of currencies becomes active.
Take The native comparison amount. The native comparison amount. For example: 1 U.S. dollar = 110 Japanese Yen. The Take will be 1 and the Give will be 110. This means that one U.S. dollar equals 110 Japanese Yen.
Give Enter the native comparison amount. The native comparison amount. For example: 1 U.S. dollar = 110 Japanese Yen. The Take will be 1 and the Give will be 110. This means that one U.S. dollar equals 110 Japanese Yen.
Cost The exchange rate that applies to item purchases made from vendors.
Take (foreign) Same as the Take Rate, but from the foreign currency's point of view. For example: 1 U.S. dollar = 110 Japanese Yen. The Take (foreign) will be 1 and the Give (foreign) will be 0.00909. This means that one Japanese Yen equals 0.009 U.S. dollars, or a little less than one cent.
Give (foreign) Same as the Give Rate, but from the foreign currency's point of view. For example: 1 U.S. dollar = 110 Japanese Yen. The Take (foreign) will be 1 and the Give (foreign) will be 0.00909. This means that one Japanese Yen equals 0.009 U.S. dollars, or a little less than one cent.
Cost (foreign) Same as the Cost Rate, but from the foreign currency's point of view

Enable Foreign Currency Tender in Tender Requirements preferences
To use foreign currency as a give or take tender, you must enable the foreign currency tender in Admin Console > Node Preferences > Transactions > Tenders > Tender Requirements. You can enable foreign currency tender for Give, Take and/or Return. By default, Foreign Currency is disabled as a tender.

Choosing Foreign Currency at POS
If foreign currency is enabled as a tender in preferences, when a user clicks the Tender Type button on the tender screen, Foreign Currency will be available for selection. If the user selects Foreign Currency as the tender type, the user must then select the desired currency from the drop-down. The exchange rate active for that day will be used to translate the Amount Due (in the Base Currency) to the amount due in the foreign currency. If change is due, the user can select the foreign currency for the change tender (provided the "Give" option is selected in Tender Requirements preferences).

  1. Touch or click Tender Transaction.    
  2. In the Tender Type drop-down, select Foreign Currency.  
    foreign currency tender  
  3. In the displayed dialog, Select the Foreign Currency type and enter the Take Amount. Note: The Take Rate and Base Currency are populated based on your settings inPrism preferences.    
  4. Touch or click Take. Return change in either the same foreign currency or the base currency.    
  5. To return change in the same foreign currency, touch or click the Tender Type button and select Foreign Currency. Select the desired Foreign Currency from the drop-down    
  6. To return change in the base currency, touch or click the Give button.    
  7. Select Print Update. The drawer opens. Return any change due to the customer.    

Tender Confirmation for Foreign Currency Transactions
When foreign currency is used, the amounts in the foreign currency and base currency are displayed.

Viewing Foreign Currency Information on Z-Out Reports
When viewing the resulting Z-Out report, any foreign currencies taken will be listed.