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title: "FEC Maintenance and Enquiry"
canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31101471/FEC%20Maintenance%20and%20Enquiry"
format: markdown
---
Goal: This option allows you to create Forward Exchange Currency Contracts which can then be allocated to purchase orders and supplier invoices.  This function is feature controlled via 'FeatureFEC'. You can set up the contracts without the feature but you will not be able to allocate them to purchase orders or invoices.  FEC contracts are used to offset imported goods costs against fluctuation in international currency exchange rates. Steps: 1. From the ' Main Menu ' select options - ' Purchasing & Receipting ' - ' Import Purchasing ' - ' FEC Maintenance '. 'FEC Enquiry' allows users to view the information without being able to change it, with an option to drill down to purchase order level by highlighting the contract and then pressing <Enter>. 2. When you select this option the system presents a list of the FEC contracts that have already been added to the system. There is a filter that defaults in Maintenance to all contracts and in Enquiry to only open Contracts. The <right and left arrow keys> are used to toggle between the two views. The FECs are displayed by creation date. 3. To Add a new contract to the system, press/click <F6> and key the following data: FEC   Number :  key the FEC number. Description :  key a name to identify the FEC Contract. Amount :  key the amount of foreign currency that was purchased on the contract. Curr :  key the currency code for the currency that the contract was for. Rate :  key the rate that was used on the contract. Expire :  key the expiry date of the contract. S :  key the status of the contract (Open or Closed). 4. To Change an existing FEC Contract, highlight the contract and press/click <F7>. Key the changes you require and then press/click <F1> to save, 5. To Delete an existing FEC contract, highlight the contract and press/click <F5>, then <F5> again to confirm. An FEC contract cannot be deleted if it has reserved transactions existing against it. 6. There is a purge program to delete only those FECs that have expired and been closed. The number of days is configurable via a field within the automatic purging table - e.g. 90 days. 7. If you press <Enter> on a contract, and there are invoices allocated to it, then you will be able to drill-down to see those invoices. There is also an adjustment function which allows you to adjust the amount allocated to particular invoice, by highlighting the invoice and then pressing <F9>. You can then key a description and a plus or minus amount for the adjustment. An adjustment record then appears on the drill-down screen. Review: You can now: Create Forward Exchange Currency Contracts which can then be allocated to purchase orders and supplier invoices.