EXCHANGE RATES

Use this subtask to review and edit AP transactions that occur in a currency other than your functional currency.

Note: For those transactions that have three identical currencies (transaction and pay currencies match functional), this screen will default certain information based on that three-way match. Unless you plan to change the Pay Currency for this voucher, do NOT change the settings in this subtask.

Voucher

This field displays the AP voucher from the main screen.

Vendor

These fields display the vendor, vendor name, and location from the main screen.

Currencies

Trans

This field displays the transaction currency for this voucher. This is the currency your vendor used on the invoice. Since the voucher has already been posted, this currency has been de-activated and is not editable.

Pay

This field displays the payment currency for the voucher. This is the currency you will use in payment of the voucher. You can change the pay currency here until the voucher is paid in full. For those vouchers that will be partially paid, you can use a different currency for each payment. If you change the pay currency, please review the Functional Currency to Pay Currency Exchange Rate Info group box. Any pay currency selected must also belong to the same rate group as the transaction currency.

Rate Group

This field displays the rate group description used for this transaction. For those transactions entered without a rate group (the transaction, payment, and functional currency are all the same), this field will display the Default Rate Group from the Multicurrency Settings screen in Costpoint Multicurrency.

Transaction Currency to Functional Currency Exchange Rate Info

Rate Date

This field displays the invoice date.

If your currency exchange rates are tracked by date, the exchange rate used for this functional to pay will be the date or range of dates in which this rate date falls. Costpoint will first look to exchange rates by date, then to exchange rates by period. (Exchange rates by period will be included only if you selected the Use period rate, if available checkbox in the Multicurrency Settings screen in Costpoint Multicurrency.)

If your currency exchange rates are tracked by period, the transaction rate used for this transaction to functional exchange will be the period rates (period end rates for the last day of the period, and period average rates for all other dates) in which this rate date falls.

If you change this date, the Trans to Func or Trans to Euro and Euro to Func fields will default to 0.          

Rate

This field mimics the Trans to Func field rate when non-Euro currencies are used. If you use a Euro currency, this field will be 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 exchange rate.

Freeze Rate

Select this checkbox to hold the last rate saved in these fields. You can enter other rates into Costpoint, but they will not be applied to this voucher (for gain or loss calculation) unless this checkbox is unchecked.

Trans to Func or Trans to Euro

For those transactions that involve countries that are EC members, this field will be titled Trans to Euro and will display the rate for the transaction to Euro currency. This field will display as Trans to Func if non-EC currencies are being exchanged.

N/A or Euro to Func

For those transactions that involve countries that are EC members, this field will be titled Euro to Func and will display the rate for the Euro to functional currency. This field will display as N/A if non-EC currencies are being exchanged.

Change Rates

Select this pushbutton to refresh the rate field with information from the Trans to Func or Trans To Euro field.

Functional Currency to Pay Currency Exchange Rate Info

If your transaction and pay currencies are the same, this group box will be disabled.

Rate Date

This field displays the invoice date.

If your currency exchange rates are tracked by date, the exchange rate used for this functional to pay will be the date or range of dates in which this rate date falls. Costpoint will first look to exchange rates by date, then to exchange rates by period. (Exchange rates by period will be included only if you selected the Use period rate, if available checkbox in the Multicurrency Settings screen in Costpoint Multicurrency.)

If your currency exchange rates are tracked by period, the transaction rate used for this transaction to functional exchange will be the period rates (period end rates for the last day of the period, and period average rates for all other dates) in which this rate date falls.

If you change this date, the Trans to Func or Trans to Euro and Euro to Func fields will default to 0.

Rate

This field mimics the Trans to Func field rate when non-Euro currencies are used. When a Euro currency is used, this field will be 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 exchange rate.

Freeze Rate

Select this checkbox to hold the last rate saved in these fields. You can enter other rates into Costpoint, but they will not be applied to this voucher (for gain or loss calculation) unless this checkbox is unchecked.

Func to Pay or Func to Euro

For those transactions that involve countries that are EC members, this field will be titled Func to Euro and will display the rate for the functional to Euro currency. This field will display as Func to Pay if non-EC currencies are being exchanged.

N/A or Euro to Pay

For those transactions that involve countries that are EC members, this field will be titled Euro to Pay and will display the rate for the Euro to pay currency. This field will display as N/A if non-EC currencies are being exchanged.

Change Rates

Select this pushbutton to refresh the rate field with information from the Func to Pay field.