Exchange Rates

This field displays the transaction code. The transaction description displays in the adjacent, non-editable field.

The transaction code represents the currency specified on the voucher.

The Japanese Yen (JPY), for example, might represent the transaction code on a voucher sent by a company in Japan to a company in the United States.

You can enter, or use Lookup to select, a different transaction code.

The data available in the Lookup originates from the Currencies screen (Administration\Maintain\Multicurrency).

Costpoint populates this field by first retrieving data from the Vendor User Flow screen (Accounting\Maintain\Vendors). If no relevant information exists in this screen, the system retrieves data from the Multicurrency Settings screen.

This field displays the pay code. The pay code description displays in the adjacent, non-editable field.

The pay code represents the monetary unit you use to pay a voucher.

If you have not established a default pay code for this vendor, the value displayed in this field defaults from the Default Transaction field of the Multicurrency Settings screen.

You can enter, or use Lookup to select, a different pay code.

The data available in the Lookup originates from the Currencies screen (Administration\Maintain\Multicurrency).

If you pay a voucher partially, you can use a different currency for each payment; therefore, you can use various pay codes until the voucher is paid in full.

This field displays the rate group code. The rate group description displays in the adjacent, non-editable field.

The rate group allows you to compare one currency to another.

Costpoint populates this field by first retrieving data from the Rate Group field of the Currencies subtask of the Vendor User Flow screen (Accounting\Maintain\Vendors). If this field does not display data, Costpoint retrieves data from the Default Rate Group field of the Multicurrency Settings screen.

You can enter, or use Lookup to select, a different rate group code.

The data available in the Lookup originates from the Exchange Rate Groups screen.

The "Daily" rate group, for example, might display 10 records. One record might compare the U.S. Dollar (USD) to the Japanese Yen (JPY), another record might compare the Dutch Gilder (NLG) to the British Pound (GBP), and the eight remaining records might include various other currency comparisons.

The rate groups you create establish a relationship between currencies. This association must exist in order for you to determine exchange rates in this subtask.

This field displays the exchange rate date.

The displayed date might represent the date you submitted voucher payment or the current date. In addition, it might represent a more arbitrary date such as any one for which you calculate an exchange rate.

Enter, or use Calendar Lookup to select, a different date. You must enter the date in the MM/DD/YYYY format.

In order to determine the exchange rates in this subtask, the date you enter in the Rate Date field must be valid based on the data in the Transaction and Rate Group fields. This date also must be valid based on the parameters you established for records in the Multicurrency screens (Administration\Maintain\Multicurrency).

After you enter or change an existing date, you must select the Find Rates pushbutton to refresh the data in this group box and calculate the exchange rate using the new date.

This non-editable field displays the rate amount.

If the transaction and functional currencies are the same, no rate determination will be necessary. In this case, this field displays "1.0000000."

If the transaction and functional currencies are different, the system calculates the rate using the parameters you established for records in the Multicurrency screens (Administration\Maintain\Multicurrency).

Example:

This field displays the transaction to functional exchange rate if you calculate the exchange rate for a non-Euro currency.

In this circumstance, this field will be labeled Trans to Func.

You can edit this field only if you selected the Allow users to override exchange rates checkbox in the Multicurrency Settings screen.

The system determines this rate using the parameters you established for records in the Multicurrency screens (Administration\Maintain\Multicurrency).

Example:

If you calculate the exchange rate associated with a Euro currency, the system calculates the value in this field by dividing "1" by the value in the Euro-to-Currency Exchange Rate field of the Currency Status screen (Administration\Maintain\Multicurrency). This field will be labeled Trans to Euro.  

In this case, the currency displayed in the Currency Status record must be consistent with the Euro currency in this screen.

This field displays "1.0000000" and will be non-editable if you convert a non-Euro currency.

In addition, if you convert a non-Euro currency, this field will be labeled N/A.

If you convert a Euro currency, you must have completed setup of the Currency Status screen (Administration\Maintain\Multicurrency). In this case, this field will be labeled Euro to Func.

If, for example, you track exchange rates by date and convert a Euro currency, the data in this field defaults from the value in the Rate Amount field of the Exchange Rates by Date screen (Administration\Maintain\Multicurrency).  

In this circumstance, the Exchange Rates by Date record should be associated with the actual "EUR" currency. This currency should be linked to the functional currency in this record.

The value defaults based on the validity of the data in the Transaction, Rate Group, and Rate Date fields.

Updating the value in the Euro to Func field updates the value in the Rate field with the equivalent amount.

You can edit the Euro to Func field only if you selected the Allow users to override exchange rates checkbox in the Multicurrency Settings screen.

Select this pushbutton to refresh the fields in this group box and retrieve updated exchange rate information using data in the Transaction, Rate Group, and Rate Date fields.

If you add or modify data in this subtask, you must select this pushbutton to display new, re-calculated exchange rate information.

Select this checkbox to suspend or halt any activity associated with the exchange rate information referenced in this subtask. This suspension will occur after the transaction has posted.

After the transaction has posted, Costpoint ignores any subsequent updates to the exchange rate throughout the life of this record. In this case, all evaluations of this record are based on the exchange rate at the time the transaction posted.

For example, if the Rate field displays ".2000000," as it relates to the Dutch Gilder (NLG) and U.S. Dollar (USD) transaction to functional exchange rate, this value will not change as long as the Freeze Rate checkbox is selected. Although the actual, real-time rate may fluctuate, the data in this subtask will remain constant.

In addition, if you select the Freeze Rate checkbox, this transaction will be excluded when you execute the Update Open A/P Exchange Rates process.

The Update Open A/P Exchange Rates process inserts the most current exchange rate into the history tables to allow the calculation of unrealized gains and losses.

This field displays the exchange rate date.

The displayed date might represent the date you entered the voucher or the current date. In addition, it might represent a more arbitrary date such as any one for which you calculate an exchange rate.

Enter, or use Calendar Lookup to select, a different date. You must enter the date in the MM/DD/YYYY format.

In order to determine the exchange rates in this subtask, the date you enter in the Rate Date field must be valid based on the data in the Pay and Rate Group fields along with your company's functional currency. This date also must be valid based the parameters you established for records in the Multicurrency screens (Administration\Maintain\Multicurrency).

After you enter or change an existing date, you must select the Find Rates pushbutton to refresh the data in this group box and calculate the exchange rate using the new date.

This non-editable field displays the rate amount.

If the functional and pay currencies are the same, no rate determination will be necessary. In this case, this field displays "1.0000000."

If the functional and pay currencies are different, the system determines the rate using the parameters you established for records in the Multicurrency screens (Administration\Maintain\Multicurrency).

Example:

This field displays the functional currency to pay currency exchange rate if you calculate the exchange rate for a non-Euro currency.

In this circumstance, this field will be labeled Func to Pay.

If the functional and pay currencies are the same, this field displays "1.0000000."

If the functional and pay currencies are different, the system determines this value using the parameters you established for records in the Multicurrency screens (Administration\Maintain\Multicurrency).

Example

If you calculate the exchange rate associated with a Euro currency, this field displays a functional currency to Euro currency calculation; in addition, this field will be labeled Func to Euro.

You can modify this field only if you selected the Allow users to override exchange rates checkbox in the Multicurrency Settings screen.

This field displays "1.0000000" and will be non-editable if you convert a non-Euro currency.

In addition, if you convert a non-Euro currency, this field will be labeled N/A.

If you convert a Euro currency, you must have completed setup of the Currency Status screen (Administration\Maintain\Multicurrency). In this case, this field will be labeled Euro to Pay.

If, for example, you track exchange rates by date and convert a Euro currency, the data in this field defaults from the value in the Euro-to-Currency Exchange Rate field of the Currency Status screen (Administration\Maintain\Multicurrency).

The value defaults based on the validity of the data in the Pay, Rate Group, and Rate Date fields.

Select this pushbutton to refresh the fields in this group box and retrieve updated exchange rate information using data in the Pay, Rate Group, and Rate Date fields.

If you add or modify data in this subtask, you must select this pushbutton to display new, re-calculated exchange rate information.

Select this checkbox to suspend or halt any activity associated with the exchange rate information referenced in this subtask. This suspension will occur after the transaction has posted.

After the transaction has posted, Costpoint ignores any subsequent updates to the exchange rate throughout the life of this record. In this case, all evaluations of this record are based on the exchange rate at the time the transaction posted.

For example, if the Rate field displays ".2000000," as it relates to the Dutch Gilder (NLG) and U.S. Dollar (USD) transaction to functional exchange rate, this value will not change as long as the Freeze Rate checkbox is selected. Although the actual, real-time rate may fluctuate, the data in this subtask will remain constant.

In addition, if you select the Freeze Rate checkbox, this transaction will be excluded when you execute the Update Open A/P Exchange Rates process.

The Update Open A/P Exchange Rates process inserts the most current exchange rate into the history tables to allow the calculation of unrealized gains and losses.

Select this pushbutton to update information in the header record and any applicable subtasks in the primary screen with the new exchange rate information.  

This pushbutton applies the new exchange rate data to other applicable fields in this screen.

For example, if you change the data in the Pay, Rate Group, and/or Rate Date fields, you must select the Find Rates pushbutton to display the updated exchange rate information.

Selecting the Apply Rates pushbutton synchronizes the header information and all applicable subtasks in the primary screen so that they are consistent with the information in this subtask.

Select this pushbutton to close or hide the subtask.