Use this screen to create groups of exchange rates that will use rate information from only one source. These groups will include rate sources (created in the Maintain Exchange Rate Sources screen) and combinations (to-from pairs) of currencies to be translated. In addition, Costpoint can notify you when currency rates fluctuate more than a set percentage. You can group currencies by geographic areas or by your company's business regions.
You can create rate groups at any time.
Enter up to six alphanumeric characters to represent your rate group. You cannot change a rate group once you have saved it, but you can enter new rate groups at any time.
Enter up to 35 alphanumeric characters to describe your Rate Group. This field is required. This description can be edited and re-saved at any time.
Enter, or use Lookup to select, the rate source for this Rate Group. This field is required. Rate sources are created in the Maintain Exchange Rate Sources screen. The field to the right displays the source description.
Select the New Line button on the toolbar to start a new row.
Enter, or use Lookup to select, the originating currency's three-letter code. In your accounting transaction, this is the "beginning" currency.
Enter, or use Lookup to select, the originating currency's three-letter code. In your accounting transaction, this is the "ending" currency.
Enter the rate change tolerance for the currencies entered in the Currency From and Currency To columns.
The system compares the tolerance that you enter in this field to the rate fluctuation entered in the Maintain Exchange Rates by Date and Maintain Exchange Rates by Period screens. This change is measured up and down (both positive and negative percentage change to the rate). If the fluctuation exceeds the tolerance rate set here, you will get an error message in the rates screens (Maintain Exchange Rates by Date and Maintain Exchange Rates by Period).
For example, suppose that you enter 10% in the Rate Change Tolerance % column. In the Maintain Exchange Rates by Date screen, you enter an exchange rate of 2.3 in the Rate Amount column on one line. When you start the second line, you must enter an exchange rate not higher than 2.53 (2.3 + 10%) or lower than 2.07 (2.3 - 10%). Any number entered outside that range will trigger an error message.
Enter "Y" (Yes) to allow override or "N" (No) to disallow override. When "Y" is entered, you can override the spot rate in various screens within Costpoint (for example, the Exchange Rates subtask of the Edit Payment Status By Vendor screen in Costpoint Accounts Payable).
Enter up to 254 alphanumeric characters to create notes about your exchange rate sources.
This column displays the formal name of the currency entered in the Currency From column. Currency formal names are entered in the Maintain Currencies screen.
This field displays the formal name of the currency entered in the Currency To column. Currency formal names are entered in the Maintain Currencies screen.
Changes to this screen update the following tables:
RT_GRP
RT_GRP_CRNCY