Exchange Rates Subtask

Use this subtask to review and modify the transaction currency exchange rate for the requisition transaction if it occurs in a non-functional currency.

After modifying the settings on this subtask, click the Find Rates button to reset the value in the Trans to Func field for the selected transaction currency. Costpoint reviews the settings and provide the appropriate currency conversion rate. If the preferred vendor contains valid default multicurrency information (from the Manage Vendors screen), the transaction currency and rate group defaults to this subtask but can be modified if the requisition is pending or rejected.

Note:

For those transactions that have identical currencies (transaction matches functional), this screen defaults certain information based on that match. Unless you are entering a requisition for a currency other than your functional currency, you must NOT modify the settings in this subtask. Be sure to review the multicurrency and vendor settings before issuing exchange rate information.

Contents

Field	Description
Requisition ID	This field displays the requisition ID from the main screen.
Transaction Currency	Use this field to enter, or use to select, the transaction currency code for this requisition. This is the currency that will be used when generating purchase orders, and that your vendor will use on the invoice. The adjacent field displays the transaction currency code's description. As an alternative, you can use in the adjacent field to select a transaction currency. If the vendor's transaction currency is different from Costpoint's functional currency, this field displays the vendor's default transaction currency that is assigned in the Multicurrency subtask of the Maintain Vendors screen. If you have not selected a default for the vendor, the default transaction currency displays from the Configure Multicurrency Settings screen in Costpoint Multicurrency. Note: Before you change the value in this field, you must link the transaction currency you want to use to the selected Rate Group on the Manage Exchange Rate Groups screen in Costpoint Multicurrency.
Rate Group	Use this field to enter, or use to select, the rate group code for this requisition. The adjacent field displays the rate group code's description. As an alternative, you can use in the adjacent field to select a rate group. This field populates with the default Rate Group from the Multicurrency subtask in the Maintain Vendors screen. If you have not selected a default for the vendor, the default rate group is selected from the Configure Multicurrency Settings screen in Costpoint Multicurrency. Before you change the value in this field, you must link rate group you want to use to the selected Transaction Currency in the Maintain Exchange Rate Groups screen in Costpoint Multicurrency.

Transaction Currency to Functional Currency Exchange Rate Info

Field	Description
Rate Date	This field indicates the date for which the exchange rates apply. By default, this field displays the current (today's) date. Use this field to enter, or use to select, a date for which you want to view exchange rates. Click the Find Rates button to display the exchange rates for the selected date.
Rate	This field displays the exchange rate for the selected Rate Date. This field mimics the Trans to Func rate when non-Euro currencies are used. When Euro currency is used, this field displays 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 rate.
Freeze Rate	Select this check box to hold the last rate saved in the Rate field. You can enter other rates into Costpoint, but they are not applied to this transaction (for gain or loss calculation) unless this check box is cleared.
Trans to Func or Trans to Euro	For those transactions that involve countries that are EC members, this field is titled Trans to Euro and displays the rate for the transaction to Euro currency. This field displays as Trans to Func if non-EC currencies are being exchanged. When this field is named Trans to Func and you click the Find Rates button, the transaction to functional exchange rate loads for the selected Transaction Currency, Rate Group, and Rate Date. You can modify the value if you selected the Allow users to override exchange rates check box in the Configure Multicurrency Settings screen in Costpoint Multicurrency.
N/A or Euro to Func	For transactions that involve countries that are EC members, this field is titled Euro to Func and displays the rate for the Euro to functional currency. This field displays is title N/A if non-EC currencies are being exchanged.
Change Rates	Click this button after you have entered new settings in this subtask. Costpoint reviews the settings and provide the appropriate currency rates.