This document shows the detailed steps for how to maintain exchange rates in the system.
WHY IS THIS IMPORTANT?
Exchange rates are used for accounting and report valuation.
1. From the main menu, navigate to Prices > Exchange Rate.
2. To search for archived exchange rates on a single date, input the same dates in the From and To fields. In the example, 31/08/2016 is inputted. Then click Refresh. You will see a list of exchange rates maintained for different currencies. All these are maintained against the enterprise currency. In this example, the enterprise currency is SGD.
3. The system allows three rates to be maintained: Valuation, Accounting and Alternate rates. Volatility information can also be maintained on this screen.
4. To enter a new exchange rate, click Add. The New Exchange Rate Maintenance screen displays.
5. Choose the currency to maintain. Then, fill in the VDate and the Valuation Rate.
6. After all the mandatory fields (marked with an asterisk) are filled out, you may click Save. All the other fields are optional.
7. After saving, you can see the exchange rate maintained by entering the VDate previously set in the From and To fields. Click Refresh.
In the example, the VDate is 16-Nov 2016 and the currency is USD.
FREQUENTLY ASKED QUESTIONS:
FAQ 1. What if I need to maintain several currencies in the system?
You can maintain several currency exchange rates in the system via the Import function. To do that, click here.