Currency Exchange Rate Maintenance

Menu Path: General Ledger $Images\bluerarw.gif$ Module Setup $Images\bluerarw.gif$ Currency Exchange Rate Maintenance

Purpose

Set up and maintain exchange rates between currencies.
Specify the effective dates for currency exchange rates.

Overview

Use Currency Exchange Rate Maintenance to define currency exchange rates against the general ledger default currency (the currency in which your company does business).

Note You only should set up exchange rates between the general ledger currency and other currencies in the system. The system ignores exchange rates set up between two currencies if neither currency is the general ledger currency.

You can also import currency exchange rates in Currency Exchange Rate Import.

Creating Currency Exchange Rates

To create currency exchange rates:

If your company uses consolidation ledgers, verify the ledger ID for which you want to define an exchange rate is entered in the Ledger ID field.
Select the currency from which you are converting in the From Currency grid.
Click the Update button in the ribbon.
Enter exchange rates and effective dates for the exchange rates in the Exchange Rate and Effective Date columns in the To Currency grid.
Click the OK button in the ribbon.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Currency Exchange Rate Maintenance window.
Update	Click this button to update exchange rates for the currency selected in the From Currency grid.
OK	Click this button to save exchange rate changes. This button is only available after you click the Update button in the ribbon.
Cancel	Click this button to cancel the changing of exchange rates. This button is only available after you click the Update button in the ribbon.
Currency	Click this button to display Currency Maintenance, which allows you to set up and maintain currencies.

Fields and Buttons

Field or Button

Description

Ledger ID

Enter a ledger ID for which to display currency exchange rates, or click the Lookup button to select a ledger ID.

Note This field is only available if at least one consolidation ledger is set up.

Main Tab Fields and Buttons

Field or Button	Description
From Currency	This grid displays all currencies in the system. Select a currency to be exchanged to the currencies in the To Currency grid.
To Currency	This grid displays all currencies in the system except for the currency selected in the From Currency grid. After you click the Update button in the ribbon, you can enter exchange rates for each currency, and the effective date for each exchange rate. The effective date defaults to the current date.
Rate History	This grid displays information for all exchange rates entered for the currency selected in the From Currency grid.