Multicurrency Exchange Rates

The program uses exchange rates to convert one currency to another. To calculate base currency, the program automatically applies the most recent non-expired exchange rate, whether daily or corporate, to the transaction amount. If more than one exchange rate exists, for example if you import rates from multiple sources, you can select which exchange rate to use. You can also manually apply a spot rate to calculate the base amount. To calculate organization currency, the program applies the corporate exchange rate to the transaction currency or base currency amount, depending on your selection on the Enable multiple currencies screen. For information about how to configure multicurrency, refer to Multicurrency: Enable Multicurrency.

In addition, you can assign an expiration date to the exchange rates. The expiration date on a rate means the rate is active only through the entered date. For example, you may have corporate rates expire monthly, and daily rates expire daily. If the most recent daily rate has expired (along with prior daily rates), the system finds the most recent unexpired corporate rate. You can also set your exchange rates to never expire so the program applies the most current rate. For more information, refer to Multicurrency: Exchange Rate Expiration.

On the Currency Exchange Rates page, you can use the tabs to view the exchange rates configured for your organization and add new exchange rate download processes. To access the Currency Exchange Rates page from Administration, select Currency. When the Currency page appears, select Currency exchange rates.