Exchange Rates
Use the Exchange Rates page to enter the Foreign Exchange (FX) rate equivalent to one unit in the reporting currency.
One FX rate per day is allowed and up to 6 decimals are supported. Zero is not a valid rate. The exchange rate continues to be in effect from the ‘effective date’ until a record with a later date is entered onto this list. The system will use the existing FX rates in place when transactions are posted.
Example:
When you click New, the ‘Effective date’ defaults to the Cash Management module’s current processing date.
The exchange rate for a specific date can be changed after the fact, but it is important to note that this will not revalue posted transactions. However, the new rate will be used on future transactions. The general rule is that when a transaction is posted, the system will store the exchange rate in place at the time of the update.
Multi-select is enabled if you need to Delete a group of records. Again, removing these records will not revalue any posted transactions, but care should be given when deleting a record.
