Work with currencies
You can change the currency of an invoice during verification and approval.
By default, if AP Essentials finds a currency on an invoice, that currency is used. The currency can be captured from three-letter currency codes (such as USD, EUR, or GBP), from currency symbols (such as $, €, or £), or other currency notations (such as franc, peso, or pound). If no currency is found, the currency of the most recently verified invoice from the same supplier is used.
If you process documents from a supplier or customer that sends documents in multiple currencies, the most recent ten currencies determine the confidence of the extracted currency. For example, assume a supplier sends you a document in US dollars (USD). After you process the document, the same supplier sends another document, but this time the currency is Swedish crowns (SEK). The first time the currency is extracted as SEK, the field status is Uncertain (). However, the next time you process a document from the same supplier in either USD or SEK, the field is automatically extracted with high confidence, and the field status is Complete (). In this manner, AP Essentials uses up to ten currencies from a single supplier or customer to determine whether the field is complete or uncertain. Only the ten most recently verified currencies are used. The supplier or customer history is used only to determine confidence, not to override a currency that is clearly identified on the current invoice.
You can change the currency of an invoice during verification and approval, either by selecting a value from the Currency box or by selecting the currency directly on the invoice image.
How the application resolves shared currency symbols
The $ symbol, for example, is used by multiple currencies, including AUD, USD, SGD, CAD, and others. In this case, AP Essentials determines the appropriate currency code based on the document type. For example, when a document is uploaded using an Australian document type, the $ symbol is interpreted as AUD. When a document is uploaded using a US document type, the same $ symbol is interpreted as USD.
If a shared currency symbol does not correspond to the currency associated with the uploaded document type, AP Essentials uses the following exceptions when drawing or double-clicking the symbol on the document image:
- For the $ symbol, AP Essentials interprets the currency as USD. For example, if a document is uploaded using an Indian document type and contains a $ symbol, the currency is interpreted as USD.
- For other shared symbols, no currency is captured. For example, if a document is uploaded using an Indian document type and contains the £ symbol, no currency is captured when drawing or double-clicking the symbol on the document image.
Select a currency from the Currency box
To change the currency of an invoice, locate the currency field and make the appropriate selection in the Currency box. If the Currency box does not contain the values you need, please contact your administrator. Administrators can add the specified currency to the currency master data, making it available for selection in the Currency box.
Select a currency on the invoice image
Currency codes and symbols are highlighted on the invoice image when detected. As with other fields, you can select a currency code or symbol by drawing a box around it or by double-clicking it on the document image while the Currency box is selected. When you change a currency this way, you teach AP Essentials where to expect to find the currency on future documents.
If the correct currency does not appear anywhere on the document image, you can select it directly from the Currency box instead of drawing a box or double-clicking. This selection is retained and is not overridden by unrelated currency text elsewhere on the document.