Exchange Rate Tables Overview

When you post a transaction, the value is stored in the transaction currency as well as other currencies used for billing, reporting, and other business needs. During this process, the various currency types (transaction, functional, billing, and project) are checked.

If the currencies are not the same, the exchanges between the transaction currency and the functional currency, and between the functional currency and the project currency and billing currency, are calculated automatically.

By default, the exchange rate in effect on the date that you enter for the transaction is the rate used. You can override an exchange rate.

Exchange Hierarchy

Usually, a transaction is recorded at the exchange rate that was in effect on the date the transaction took place. Vision 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.