Specifying periodic average and closing rates

Use the Enter Exchange Rates page to specify the periodic average and closing rates. Currency exchange rates for these translation methods are specified for the configuration set, currency version, year, and translation method. The rate that is specified is the rate to translate the entity currency to the target currency. The target currency defaults to the group currency and the rates between the entity currency and the group currency must be specified.

  1. Click the Home icon.
  2. Select Business Configuration > Configuration Set-specific Settings > Currency Exchange > Exchange Rate Data Entry > Periodic Average and Closing Rates.
  3. Specify this information:
    Version
    Select a version. Budget versions must be activated for the configuration set.
    Target Currency
    Select a target currency.
    Year
    Select a year in the configuration set that contains the data to translate. The default values are the years in the configuration set.
    Translation Method
    Select the translation method.
  4. In the Rate column, specify the exchange rate to use to translate the entity currency to the target currency. Click > to copy the rate to each month in the year to minimize manual data entry. You can provide a unique value for each month individually by specifying an amount in a month column.
  5. Optionally, select Actions > Select Years to include additional years outside of the configuration set. This option opens the Select Element dialog box where you can select from all the years that are defined in the application. The selected years replace the existing Year list.
  6. Optionally, select Actions > Reset Years to automatically set the Year list to the configuration set years after it has been changed by the Select Years option. This option is available if the Select Years option has been used to adjust the Year list.
  7. Select Actions > Calculate Cross Rates. This option is available when the target currency is set to the group currency. This option calculates the currency exchange rates between all other currencies using the rates specified for the group currency. These rates can be examined after the Calculate Cross Rates option is executed by changing the target currency.
  8. Optionally, select Actions > Copy Exchange Rates From Version. This option opens the Select Version dialog box where you can select the version from which to copy the exchange rates into the selected version on the page.