Deltek Vantagepoint Help

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Daily Exchange Rates

You can set up exchange rates from one currency to another currency and specify the dates on which those rates are valid.

For daily exchange rates, you specify:

  • The "from" currency and "to" currency
  • The date for which the exchange rate applies
  • The exchange rate, up to 10 decimal places

If you have not set up an exchange rate for a specific date, Vantagepoint looks at the period exchange rate table, where you specify date ranges, to determine the rate to apply.

Because these rates are retained indefinitely, the Daily Exchange Rates settings form provides filters that you can use to limit the number of rates that are displayed. You can filter by currency or by period. For example, you can limit the list to display only currency exchange rates between Canadian dollars and American dollars.

Translation Methods

In consolidations groups setup, you specify a "translation method" for an account range or an account, and this method applies to all translations for that account. The choices for translation method are:

  • Period end rate
  • Period avg rate
  • Historical rate

The first two settings use rates from the period exchange rates table and use rates for the "period" of the transaction. The last setting, historical rates, uses rates from the daily exchange rates table and uses the transaction date to get the rate. These translations are done when consolidating data from a company whose functional currency is different than the reporting currency for the group.

To set up the translations, use the options in the Translations section of the Consolidated Reporting settings form, in Settings > General Ledger > Consolidated Reporting. For information about how Vantagepoint handles gains and losses that result from translations between a company's functional currency and its consolidation group's report currency, see the Concepts section of the help.

Exchange Hierarchy

Usually, a transaction is recorded at the exchange rate that was in effect on the date the transaction took place. Vantagepoint employs different methods for performing currency conversion:

  1. An exchange rate or exchange date override, if one has been specified.
  2. A direct exchange, based on the exchange rate table set up for your company.
  3. An inverse exchange.
  4. An exchange calculated using triangulation.

XE.com Exchange Rate Online Service

The XE.com Currency Exchange Rate Service is an online exchange rate service, which you can incorporate into Vantagepoint's Daily Exchange Rates feature.