Use this subtask to review the rates that will be used to convert your functional currency to the destination's reporting currency.
The receiving location's code and name default into this field.
The Fiscal Year from the main screen defaults into this field.
The Period from the main screen defaults into this field.
The receiving location's reporting currency defaults into this field. The system uses this currency to convert your company's functional currency to the receiving location's reporting currency. Establish the reporting currency in the Maintain Transfer Locations screen.
Use the drop-down box to choose a rate group that will be used for the currency conversion.
The system date initially displays in this editable field. To convert the functional currency to reporting currency, the system uses the rate in effect on this date. Costpoint performs the conversion using the Account Type of each mapped account as defined in the Maintain Accounts screen in Costpoint General Ledger. If the account is a balance sheet account (asset, liability, or stockholders equity), the system will use the Period-End Rate from the Maintain Exchange Rates by Period screen (or the Enter Period Rates screen) in Costpoint Multicurrency. If the account is defined as an income statement account (labor expense, income, non-labor expense), the system will use the Period-Average Rate from the Maintain Exchange Rates by Period screen (or the Enter Period Rates screen).
This field displays the transactional-to-functional rate when non-Euro currencies are used. When a Euro currency is used, this field displays the result of the transactional-to-Euro and Euro-to-functional rates. In other words, before the local currencies of participating countries were replaced by the Euro, the system used the triangulation method to establish an exchange rate between two currencies. No direct rate (relationship) existed for the Euro, and therefore a third common rate was used. For the currencies that were replaced by the Euro, the Euro was used to establish a rate between itself and any other currency.
This process no longer exists, and all results displayed are at the transactional-to-functional rates.
This field displays the rate of the functional-to-reporting currency.
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 be titled N/A if non-EC currencies are being exchanged.
This field displays the transactional-to-functional rate when non-Euro currencies are used. When a Euro currency is used, this field displays the result of the transactional-to-Euro and Euro-to-functional rates. In other words, before the local currencies of participating countries were replaced by the Euro, the system used the triangulation method to establish an exchange rate between two currencies. No direct rate (relationship) existed for the Euro, and therefore a third common rate was used. For the currencies that were replaced by the Euro, the Euro was used to establish a rate between itself and any other currency.
This process no longer exists and all results displayed are at the transactional-to-functional rates.
This field displays the rate of the functional to reporting currency.
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 be titled N/A if non-EC currencies are being exchanged. (This field no longer contained user functionality after the transition to the Euro was completed.)
Select this pushbutton to refresh the rate fields with information from the Func to Report field.