IMOS - Exchange Rates

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The Exchange Rates form lists the currency conversion, or exchange, rates used in financial transactions. Exchange rates have an Effective Date; they should be updated either manually or automatically (via an external exchange rate feed) to avoid applying outdated rates to newer invoice transactions. The default base currency used is the US dollar (USD).

To access the Exchange Rates form, do one of the following:

• On the Financials menu , under Setup, click Exchange Rates.

• On the Data Center menu , under Currencies, click Exchange Rates.

Open

Changing the Base Currency

To change the Base Currency from USD, click in the field, press Delete, press Enter, select the currency, and then click OK.

Note: The Base Currency must already be defined on the Currency Types form.

Adding an Exchange Rate

To add an exchange rate:

1. Add or insert a row.

2. In the Cur field, press Enter to open the Currency Types form and then select a currency.

3. Enter the Current Rate of Exchange. When you save the form, Effective Date populates with today's date. Any transactions that take place on or after this date use this rate.

Effective Exchange Rate

Activated by flag CFGUseEffExchRate. It is a weighted average based on the amount paid for the advance vs. the FDA amount, calculated as:

EffectiveRate = FDACurrAmt / ((FDACurrAmt - PDACurrAmt) / FDAExchRate + (PDACurrAmt / PDAExchRate)

"PDACurrAmt" is the total advance amount.