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Different Currency for Demurrage and Freight?

Different Currency for Demurrage and Freight?

Owned by Erik Fritz Loy
Last updated: Mar 21, 2016 by Former user (Deleted)

Question

If, as per contract, the freight rate is in EUR, Dataloy VMS uses EUR for demurrage. However, the demurrage rate is in USD. How can this be adjusted in the system?

Answer

Dataloy VMS always assumes that the demurrage is to be calculated in the same currency as the freight. Dataloy Systems is planning to make it possible to distinguish between the two in future versions. Currently, however, there is a procedure around this that can be used when invoicing.

To change demurrage currency:

  1. Convert the EUR freight currency to USD.
    Note: Laytime calculations will now be in USD.
  2. When invoicing freight change the currency of the freight line item to EUR and override the exchange rate.

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