This guide covers all newly-developed functionality for Quadient AP since the previous entry in this series. These features have been implemented according to our planned development and in reaction to feedback from our customers. Further release notes can be found on the Quadient University

Currency Standardization

Currency is now handled uniformly across all accounting system integrations. These changes are initially releasing to a small group, so you may not see them in your system yet.

Currency List

Currency lists are now used for all integrations. The list is either imported from your accounting system or generated by our system during this feature release. If the list is imported from your accounting system, some data may be transformed to match valid ISO Codes.  As this list is now required for all transactions, it can not be deactivated. 

Previously, currency lists were only used for accounting systems that imported this list into our system.

Entity Currency

An entity currency must be set for each legal entity. This currency is coded by default on all transactions. This field is set automatically when you run a sync if a default currency can be determined from your accounting system. If not, it can be set in Legal Entity settings.

Previously, the entity currency was set manually from one of the following options:

• USD
• CAD
• EUR
• GBP

Changes to Required Coding Field

Currency and Vendor are now required coding fields for invoices and purchase orders.

Previously, these fields were not required, and transactions could be submitted for approval without them.

Currency and Vendor Relationship

Currency information is imported as part of vendor data. If a vendor has a default currency set in your accounting system, this currency will be set as the default for any transactions in Accounts Payable by Beanworks.

Previously, vendor currency information was imported but not used.

Unknown Currency Validation

All currencies must conform to the ISO 4217 standard. If a transaction's currency is invalid or does not match an ISO code, it is listed as UKN (Unknown), and the transaction can not be submitted for approval.

Previously, currencies did not have to conform to ISO 4217 standards.

Selective Sync Functionality

As part of this feature release, you can now select the lists to be included in a sync.

Previously, all lists were included in a sync.

Currency Symbols

Accurate currency symbols are now displayed across the Accounts Payable by Beanworks, including in reports and email notifications.

Previously, currency symbols could be inaccurate or missing depending on the currency selected.