Information

Encashment enables exchanging or accepting payment in a foreign currency using Foreign Exchange Rates. 
The Encashment tab on the Reservation provides the ability to record the exchange of foreign currency to local currency and provide the legal certificate for the exchange as well as the ability to apply the converted foreign currency value to the Reservation Account.

Foreign Exchange Rates are static conversion rates that can be used for currency conversion and multiple currencies in RMS.

The Foreign Exchange Rates entered can be used as an Alternate Currency for Currency Exchange or Currency Conversion on Quick Quote.

Foreign Exchange Rates must be entered as a static conversion rate to convert the foreign currency into the local currency.

Exchange rates remain at the static value entered and are not automatically adjusted.

Setup

1. Setup Foreign Exchange Rates for all accepted currencies.
   
    
2. In the Side Menu of RMS, go to Setup > Property Options > General Information.
3. Navigate to the 'Reservation Defaults' tab.
4. Select the checkbox 'Show Encashment Tab'.
5. Save/Exit.
6. Log out of RMS to allow the database to update with the changes made.