MODCHQ - SET UP AND MAINTENANCE
Ó UNCTAD SITE (V1.15)
10.23
The method of updating these tables is also identical and so a detailed description of each is not
necessary. Most tables require only a code and description and are updated in the normal way.
A good understanding of the Administrations accounting requirements is
necessary before setting up the codes for Budget, Tax and Accounting
Transactions (In and Out).
The Currency table allows you to enter a currency conversion rate to convert the foreign currencies
to national currency.
To calculate national currency ASYCUDA++ takes the declarations invoice
amounts and multiplies by the conversion rate.
Formatting the data elements within National Standards sets the number of decimal places
available for currency rates. See Section 8 of this Reference Document.
Because of the high denominations of some currencies, a data element standard of say, four
decimal places, for rate of exchange, would not prove sufficiently accurate. To solve this, the
currency/rates tables allow for a factor to be applied a reference unit.
From Version 1.15 of ASYCUDA++ Currency Reference units are stored along with the rates of
exchange. This ensures that previous rates of exchange for a currency remain correct.
The frequency of rates of exchange update varies according to the policies of
the National Administration. Rates of exchange updates are more easily
managed using the Simplified management, Exchange rates option. See
Exchange Rates .
Processing Program
This feature provides a partial solution to Inward and Outward Processing. For example, consider a
company that manufactures shirts from buttons and fabric. The system will not verify that the
number of shirts that will leave the processing follows a formula between shirts, buttons and square
meters of fabric.
The system will check that declarations dealing with button and fabric share the same processing
program as declarations dealing with shirts. Then, for a given period of time, we will be able to
check the quantity and total values of raw material (buttons, fabric) entered to the processing
program against the quantities and values of end products (shirts) that have left the processing
program.
For any one processing program, several Customs Offices, the beneficiary company and the
authorized length of manufacturing time can be assigned. An action code described above under
Customs procedures will determine whether the processing program is outward or inward
processing.
When you capture a declaration where the Requested Procedure (buttons/fabric) or Previous
Procedure shirts also has such an Action Code, a small window will appear to capture the
processing program number directly after having captured the CPC.
For example, in a situation where 1 National currency unit (NCU) = 220 Foreign
currency units (FCU):
220 FCU must be multiplied by.004545 to convert to 1 NCU, but the four
decimal places of the data element formatting limits the rate to 0.0045.
Applying a reference unit of 100 for that foreign currency would mean the
conversion rate becomes 0.4545.