Updating item price lists

[johnhugh]

Hi,
I'm trying to update pricelists in Accpac 5.6.
My functional currency is USD, I have a price list in AUD.
I actually thought the price list just uses the latest exchaneg rate it can find but it looks like I have to update item pricing manually.

I went into I/C Update Item pricing, selected my priclist and new exchaneg rate but can not get it to update. Just shows updated: 0

Is there anything else I'm missing here or why won't it update?

 

[Jay Converse]

That's not how it works. Exchange rates are calculated at the time of invoicing. If you didn't change the AUD price, there's nothing to update.

 

[johnhugh]

Thanks for your reply tuba.

I'm not sure I understand though.
I'm selling in AUD so if the USD/AUD exchange rate changes then I need to update the price list with the new exchange rate which should automatically update my selling price in AUD, no?

I don't want to update the AUD price manually, I want Accpac to update it based on the new exchange rate.
Is that not how it works?

 

[Jay Converse]

No, that's not how it works. You can change your AUD prices if you want to, but it's independent of exchange rates fluctuations. Use the Update Item Pricing function, and change it by a percentage.

 

[johnhugh]

Thanks tuba.
I don't think you are correct. I believe I can update prices with an exchange rate, I just don't know how or why it won't work for me.

If I click on help in the I/C Update Item Pricing Window it says the below:

Multicurrency ledgers
If you have a multicurrency system, you can update prices by currency and exchange rate.

For example, if you update US prices first, you can update Canadian prices on your price list by using exchange rates, and basing the new prices on the US currency prices.

For example, if the price list code is RETAIL, and you enter the following in the Update Pricing fields:

Currency: CAD
Price List Code: from RETAIL to RETAIL
Update: Base Price using Exchange Rate
Base on currency: USD

The program will first locate the item pricing with:

Currency: USD
Price list code: RETAIL

Then it will multiply the base price times the exchange rate, and update the item pricing for:

Currency: CAD and
Price List Code: RETAIL

This is exactly what I want.
There should be no need to update it with a percentage.

 

[Jay Converse]

Good, then you solved it.

 

[DjangMan]

So to go back to your original question as to why it didn't update anything you might need to double-check your criteria and then the next step would be to run rvSpy.

 

[johnhugh]

Thanks DjangMan.
I think I have it working now.
Just need to verify it's actually doing the right thing.