Multiple Groups or Multiple Currencies?

Functionality discussions and feature requests

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lfoster
Posts: 51
Joined: Fri Oct 03, 2008 9:49 am

Multiple Groups or Multiple Currencies?

Post by lfoster »

We are using Cyclos to use silver and gold coin as money.

We have three types of currency, the American Eagle (1 oz. gold per $50.00 US) gold coin, the Silver Liberty (1 oz. silver per $1.00 US) silver coin, and the pre-1965 silver coins (0.715 oz. silver per $1.00 US).

Would it be best to have three different Groups (Gold, Silver, and pre-1965 Silver) or to have a single Member Group with the three different currencies?

To use three different currencies, I need to add two more System Accounts to have a separate Community, Debit, Organization and Voucher for each of the three currencies, correct? Example: Gold Debit, Silver Liberty Debit and pre-1965 coin Debit. All with the associated Transaction Types, correct?

To have three separate Groups (Gold Member, Silver Liberty Member, and pre-1965 coin Member), I would need to add two more Groups plus the three currencies. Each Group would have one currency assigned.

I have printed the manual and I don't see where it explains using multiple currencies. Should I decide to use one Member Group and three currencies, how do I add a new currency to the existing Member Group?

When I go to Accounts>Manage Accounts>Member Account, it shows Silver Liberty (the one currency in the system) as default. When I add two more currencies, how do I associate these new currencies with the Member Account?

Any help from anyone who is using more than two currencies will be appreciated.
rmvanarkel
Posts: 245
Joined: Tue Oct 05, 2010 1:14 pm

Post by rmvanarkel »

You don't need to add a currency to a member group, just add an account type of a certain currency and he is able to use the currency. Go to:

User & Groups > Permission Groups > Group name (e.g. Full members), don't click on the permissions but on the modify icon. In the next page below you can add accounts to the group. Then in the permissions you can select which transaction types the group is allowed to use (for payments).
lfoster
Posts: 51
Joined: Fri Oct 03, 2008 9:49 am

Post by lfoster »

Yes, you do need to add a different currency, then you create an account using that currency, then you can add that account to the Full Member.

I have added a Gold Eagle currency. I then added a Member Gold Eagle Account with the Gold Eagle as the currency. Now I can add the Member Gold Eagle Account to the Full Member Group Account. Of course, I will need to add all the associated Transaction Types.

I need to also add a Community Gold Eagle Account, Debit Gold Eagle Account, Organization Gold Eagle Account, and a Voucher Gold Eagle Account with the associated Transaction Types and then modify the Permissions.

I will also need to do this with the pre-1965 silver Coin currency.

Each currency needs to have it's own System and Member Accounts as each currency is separate from the other. Example, You cannot transfer from one Debit Account to each of the three currencies. Each currency must have it's own separate Debit Account. If I were to transfer $1.00 from Debit to Member Gold Eagle and transfer $2.00 from the same Debit to Member Silver Liberty, there is no way to know how much of each coin is reflected in the Debit Account.

The same for Transaction Fees. If you did not have three separate Organization Accounts for the Transaction Fee to go to, one for each currency, the Transaction fees of someone paying with pre-1965 coin and another paying with Gold Eagles would get all mixed up and you would have no way of knowing how much gold or silver should be in the account.

I have decided to go with the one Member Account and three currencies. It should be the easiest way to set this up.
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