This document explains how you register a future rate agreement you have with your bank to sell or buy currency at a certain date at a certain exchange rate.
An sales or purchase future rate agreement is registered with information on the basic values.
Connect customer or supplier invoices to the agreement, either when entering them in an entry program or afterwards in 'Accounts Receivable. Display' (ARS200) or 'Accounts Payable. Display' (APS200) respectively.
Review how much of the agreement amount is reserved or used per agreement in (RMS120/E).
The starting conditions listed in Managing Future Rate Agreements must be met.
Start 'Future Rate Agreement. Open' (RMS120/B).
Set the panel sequence.
This instruction is based on panel sequence E.
Select one of the two sorting orders.
Both sorting orders display the agreement type and agreement ID. Type 1 also displays description, currency, exchange rate, and contract amount. Sorting order 2 instead displays currency, due date, contract amount, amount used, and index (that is, percentage used).
Select agreement type 1 for a sales agreement or agreement type 2 for a purchase agreement and enter an agreement ID. Click New.
The ID can consist of up to 10 alpha-numeric characters.
On the E panel, enter description (required) and name.
Enter the financial values agreed on: Currency, invoice rate, agreement amount and due date for the agreement.
The invoice rate is the exchange rate that will be applied to all invoices connected to the agreement.
If you wish to add a personal comment on the agreement, press F6 and enter the comment in the text panel displayed. Click Next.
Press F3 to complete the registration.