Creating currency relationships

You can define a currency relationship to determine how a transaction amount is converted from one currency to another:

Whether the system multiplies or divides the transaction amount by the exchange rate.
Whether the exchange is triangulated (European Union currencies only).
See Currency triangulation.
Whether a user can override the exchange rate, and by how much.
See Override protection.

Currency relationships are defined at the finance enterprise group level.

Note: For systems that are configured with Financials and Supply Management and HR Payroll, the finance enterprise group and currency data are created and maintained in Financials and Supply Management.

See Infor Financials and Supply Management User and Administration Library (Cloud and On-premises) and select Administrator > Financials Setup and Administration.

You can configure the shared data with Infor Financials and Supply Management.

See Infor HR Talent User and Administration Library (Cloud and On-premises) and select Administrator > HR Talent Configuration.

Before an HR administrator view the currency relationships from Financials and Supply Management in HR Talent, you must enable the HR Administration Consolidated Webapp feature toggle.

See Enabling feature toggles.

You must create the currency codes that are involved in the relationship before you can create the relationship.

Select Administrator > Set Up > Prerequisites > Currency > Currency Relationships or HR Administration > Administration > Setup > Other Prerequisites > Currency > Currency Relationships.
Click Create.
Specify this information:

Finance Enterprise Group

Select the finance enterprise group for which the relationship is defined.

From Currency

Select the currency relationship's source currency.
Note: From Currency amounts are exchanged to To Currency amounts. The From Currency amounts are multiplied or divided by the From Currency amounts by the rate that is in effect for the relationship. This occurs on the date of the translation.

To Currency

Select the currency relationship's target currency.
Note: From Currency amounts are exchanged to To Currency amounts. The From Currency amounts are multiplied or divided by the rate that is in effect for the relationship. This occurs on the date of the translation.

Auto Generate Reverse Relationship

Select this check box to have the system auto generate the reverse relationship. For example, if you create a relationship from USD (US Dollar) to GBP (British pound) with a multiply operator, a relationship is generated from GBP to USD with a divide operator.

Multiply or Divide

Specify whether to use a multiply or divide operation when converting the From Currency amounts to the To Currency amounts.
This field is irrelevant if the Triangulate check box is selected.

Triangulate

Select this check box if the From Currency and the To Currency must be exchanged by way of a third currency. For example, the euro.
If you select this check box, you must select the triangulation currency in the Triangulate Via field.

Triangulate Via

If you selected the Triangulate check box, specify the triangulation currency in this field.
Currently, the euro is the only known triangulation currency.

Override Protection

If you select this check box, the currency exchange rate is protected from being overridden in a journal entry. The default is no protection (check box not selected). If you select this option, you cannot override the exchange rate when you specify a transaction, regardless of the override tolerance.
Note: You must select override protection for European currencies that participate in the euro conversion scheme. The rates are legally fixed by the European Monetary Union and cannot be overridden.

Override Tolerance

Specify by what percentage, if any, to override the currency exchange rate. If this field is left blank, a value of 0 is used and no tolerance editing occurs.
This field is ignored if Override Protection check box is selected.
Click Save.