Exchange Rates

The Exchange Rate is used in conjunction with the  currency master and is a  rate at which a unit of the currency of one country can be exchanged for a unit of the currency of another country.

Table Name: ProteinCurrencyExchangeRates

Exchange rates are used throughout the system to calculate multi-currency transactions. Rates are derived on the following transactions:

• Receiving Transactions - based on the receive date of the transaction.
• Purchase Invoices - based on the invoice date defined on the transaction. Gain/Loss is calculated based on difference between the rate calculated on the receiving transaction and the rate in effect on the invoice date.
• Order Shipments - revenue will accrue based on the rate that is in effect on the ship date.
• Sales Invoices - based on the invoice date defined on the transaction. The accrual from the order shipment will reverse and the actual accrued foreign exchange will be recorded.

Create Exchange Rate

1. In Admin>Business>General>Definitions>Currencies, select Exchange Rates.

2. Select to create a new rate.

3. From the Currency From drop-down menu, select the source currency that is assigned to the transaction.

4. From Currency To, select the currency assigned to the Division.

5. Click the OK button.

 



 

6. In the Exchange Rates section, enter the Effective Date of the rate.

7. Enter the Exchange Rate to calculate the foreign exchange amount from the source currency to the transactional currency.

8. Save and Close the record.