Contents of the Configure Multicurrency Settings Screen

Use the fields and options to configure the Configure Multicurrency Settings screen.

Currency Settings

Field	Description
Functional Currency	These fields display the International Standards Organization (ISO) currency code for the functional currency and the name of that currency.
Default Transaction	Enter, or click to select, the three-character ISO code of the default transaction currency. You can only specify a currency that has been set up on the Manage Currencies screen.
Default Rate Group	Enter, or click to select, the default rate group. You can only specify a rate group that has been set up on the Manage Exchange Rate Groups screen. In addition, the default transaction currency selected in Default Transaction must be linked with this rate group on the Manage Exchange Rate Groups screen.
Allow users to override exchange rates	Select this check box to allow those entering transactions to override exchange rates that are entered on the Manage Exchange Rates by Date, Manage Exchange Rates by Period, Manage Daily Exchange Rates, or Manage Period Exchange Rates screens. If this check box is selected, you can override rates during data entry in the Exchange Rates subtask on such screens as Manage Accounts Payable Vouchers, Manage Purchase Order Vouchers, and Manage Purchase Orders.

Exchange Rate Method

Field	Description
	Use this block to choose your preferred exchange rate lookup. If you clear one of these check boxes, Costpoint uses rates entered by date as the basis for exchange rates. You enter these daily rates on the Manage Exchange Rates by Date screen and the Manage Daily Exchange Rates screen.
Use triangulation to find a rate	Select this check box if you want Costpoint to use the triangulation method to create an exchange rate between your functional and default transaction currency. If there is no direct exchange rate between two currencies, you can create an exchange rate through exchange rates between each of them and a third currency. Example: You do not have an exchange rate for your functional currency (yen) to your transaction currency (rupees), but you do have an exchange rate between each of these and the British pound. If you use triangulation, Costpoint uses the yen-to-pound rate and the rupee-to-pound rate to calculate a yen-to-rupee rate.
Use period rate, if available	Select this check box if you want Costpoint to search for a period rate when a daily rate is not available. You enter these period rates on the Manage Exchange Rates by Period screen and the Manage Period Exchange Rates screen.
Intermediate Currency for Triangulation:	Enter, or use Lookup to select, the currency code for the intermediate currency that you want to use for triangulation. In the triangulation example above, the British pound is the intermediate currency. You can only specify an intermediate currency that has been set up on the Manage Currencies screen.

Compute Unrealized Gains/Losses Method

Field	Description
Net Change	If you select this option, Costpoint computes any unrealized gain or loss by looking only at the currency value change since the last time the currency valuation was made by period. This net change is calculated period-by-period.
ITD Balance	If you select this option, Costpoint computes any unrealized gain or loss by based on the currency value change for the fiscal year to date. Costpoint also creates an automatic reversing entry to be posted in the following period.