Use this subtask to review exchange rate information. The data in this subtask is non-editable.
Exchange Rates designate the price at which the currency of one country is traded for the currency of another country.
You can also use this subtask to review exchange rates for non-Euro and Euro currencies. The Euro is the currency used in Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain. Non-Euro currencies represent the legal tender used in the remaining countries.
If you are reviewing exchange rates for any country that now uses the Euro, the labels (field names) in this subtask will vary. Euro currencies will be associated with the Trans to Euro and Euro to Func labels. The same fields, when associated with non-Euro currencies, will be labeled Trans to Func and N/A, respectively.
Use this subtask to review exchange rate information.
This non-editable field displays the transaction code. The transaction description displays in the adjacent, non-editable field.
The transaction code represents the currency specified on the invoice.
This non-editable 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.
For example, the "Daily" rate group 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 Great British Pound (GBP), and the eight remaining records might include various other currency comparisons.
The rate groups you created establish a relationship between currencies. This relationship allows you to establish exchange rates in this subtask.
Use the fields in this group box to review transaction currency to functional currency exchange rate information. The transaction currency represents the currency specified on the invoice; the functional currency represents your company's primary or base currency.
This non-editable field displays the exchange rate date.
The displayed date might represent the date you entered the invoice. It also might represent a more arbitrary date, such as one for which you calculated an exchange rate.
This non-editable field displays the rate amount.
If the transaction and functional currencies are the same, this field will display "1.0000000."
If the transaction and functional currencies are different, the system will calculate the rate using the parameters you established for the Multicurrency records in the Administration domain.
This non-editable field will display the transaction to functional exchange rate, if you are calculating the exchange rate for a non-Euro currency.
In this case, the field will be labeled Trans to Func.
The value in the Trans to Func field will be seeded from the Rate Amount field of the Exchange Rates by Date screen (Administration\Maintain\Multicurrency), if you track exchange rates by date.
If you are calculating the exchange rate associated with a Euro currency, the system will calculate 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 non-editable field will display "1.000000" if you are calculating the exchange rate for a non-Euro currency.
In this case, the field will be labeled N/A.
If you are calculating the exchange rate for a Euro currency, the field will be labeled Euro to Func.
In this circumstance, the system will calculate the value in this field using the parameters you established for Multicurrency records in Administration domain.
If this checkbox is selected, this means that the system has halted any activity associated with the exchange rate information referenced in this subtask. This suspension occurs after a transaction is posted.
In this circumstance, 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 selected the Freeze Rate checkbox, this transaction will be excluded from update by the Update Open A/R Exchange Rates process.
The Update Open A/R Exchange Rates process inserts the most current exchange rate into the history tables to allow the calculation of unrealized gains and losses.
Since all of the fields in this subtask are non-editable, the functionality of this checkbox is disabled; you cannot use it to halt or suspend exchange rate activity.
Select this pushbutton to close or hide the subtask.