Update Open Accounts Receivable Exchange Rates

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

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

If you do not use this screen before printing the Accounts Receivable Aging report, out-of-date exchange rates may be used. This screen is especially important when exchange rates fluctuate substantially between the time that invoices are issued and the time the corresponding payments are received.

Run this update process before printing any customer statements, accounts receivable aging reports, or accounts receivable history reports. If you do not, out-of-date exchange rates may be used. This could result in an inaccurate recognition of gains or losses on foreign currency transactions.

You cannot update any AR rates until you have generated the Update Open A/R Exchange Rates report based on your processing options.