Update Open Accounts Payable Exchange Rates

Use the Update Open Accounts Payable Exchange Rates screen to load currency exchange rates into Costpoint Accounts Payable.

This ensures that Costpoint will use the most current rates when calculating gains and losses.

If you do not use this screen before selecting vouchers for payment, out-of-date exchange rates may be used for these transactions. This could result in an inaccurate recognition of gains or losses on foreign currency transactions. This screen is especially important when exchange rates fluctuate substantially between the time vouchers are entered and the time they are paid.

Run this process before you select vouchers for payment and compute unrealized gains and losses.