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   Administration’s   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  declaration’s  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.