Exchange Rates Subtask

Use this subtask to review and modify the transaction currency exchange rate for the selected quote line if it occurs in a non-functional currency.

After modifying the settings in this subtask, click the Find Rates button to reset the Trans to Func field for the selected transaction currency. Costpoint reviews the settings and provides the appropriate currency conversion rate. If the vendor ID contains valid default multicurrency information from the Maintain Vendors screen, the transaction currency and rate group default into this subtask. You can modify them if the quote is open.

Note:

If a quote line has identical currencies (transaction matches functional), this screen defaults certain information based on that match. Unless you are entering a quote for a currency other than your functional currency, do not modify the settings in this subtask. Review the multicurrency and vendor settings before issuing exchange rate information.

Contents

Field	Description
Transaction Currency	This field displays the default transaction currency ID for the selected vendor quote. This is the currency that the vendor will use on the invoice. The transaction currency's description displays in the adjacent field. If the vendor's transaction currency is different from Costpoint's functional currency, this field displays the vendor's default transaction currency that is assigned in the Multicurrency subtask of the Manage Vendors screen. If you did not select a default for the vendor, the default transaction currency displays from the Configure Multicurrency Settings screen in Costpoint Multicurrency. You can modify this field; however, the selected transaction currency must be linked to the selected Rate Group on the Manage Exchange Rate Groups screen in Costpoint Multicurrency.
Rate Group	This field displays the default rate group ID for the selected vendor quote. The rate group's description displays in the adjacent field. If you did not select a default for the vendor, the default rate group is selected from the Configure Multicurrency Settings screen in Costpoint Multicurrency. The selected rate group must be linked to the selected transaction currency on the Manage Exchange Rate Groups screen in Costpoint Multicurrency.

Transaction Currency to Functional Currency Exchange Rate Info

Field	Description
Rate Date	This field displays the current system date. To obtain exchange rates for another date, enter, or click to select, a date and click the Change Rates button.
Rate	This field mimics the Trans to Func rate when non-Euro currencies are used. When a Euro currency is used, this field displays the product of the Trans to Euro and Euro to Func fields. The fraction that is displayed to the right of the Trans to Euro field is the value of one divided by the Euro to transaction currency rate.
Freeze Rate	Select this check box to hold the last rate saved in these fields. You can enter other rates in Costpoint, but they are not applied to this transaction (for gain or loss calculation) unless this check box is cleared.
Trans to Func or Trans to Euro	For transactions that involve countries that are EC members, this field is labeled Trans to Euro and displays the rate for the transaction to Euro currency. This field displays as Trans to Func if non-EC currencies are being exchanged. When this field is labeled Trans to Func and you click the Change Rates button, the transaction to functional exchange rate loads for the selected Transaction Currency, Rate Group, and Rate Date, but you can modify it if you selected the Allow users to override exchange rates check box on the Multicurrency Settings screen in Costpoint Multicurrency.
N/A or Euro to Func	For transactions that involve EC member countries, this field is labeled Euro to Func and displays the rate for the Euro to functional currency. This field displays as N/A if non-EC currencies are being exchanged.
Change Rates	Click this button after entering new settings in this subtask. Costpoint reviews them and provides the appropriate currency rates.
Apply	Click this button to apply the specified exchange rates setting to the selected vendor quote.