Creating period rates

Before you create currency period rates, you must create the currency relationships for which to specify period rates. The currency relationships must be associated with the finance enterprise group to which you have access.

Period rates are typically created in one direction only, from an accounting entity's functional currency to the enterprise currency or currencies. Therefore, reverse period rates are not automatically created for currency relationships that use the auto generate reverse relationship option. You must create period rates for each translation code and currency relationship that is used in your reporting bases charts.

See the Infor Data Interface Guide for information about interfacing period rates.

  1. Select Financials > Global Ledger > Setup > Currency > Currency Maintenance.
  2. Select the Period Rate tab.
  3. In the Translation Code pane, select the Global Ledger translation code for which to create period rates.
  4. On the Rate tab, click Create.
  5. Specify this information:
    Budget
    Specify if the rate is used for budgeting. The default value is No.
    Global Ledger Translation Code
    The translation code that you selected is the default.
    Scenario
    If the Budget field is set to Yes, then you can define the budget scenario for which the rates are effective. If this field is blank, the rates are effective with all budget scenarios.
    From
    Select the currency from which amounts are translated.
    To
    Select the currency to which amounts are translated.
    Period
    Select the period for which the translation rate is in effect.
    Note: The period that you select is displayed as a Julian period, in the format YearDay. For example, December 31, 2015 is displayed as 2015365. The format is used because each reporting basis can have a fiscal calendar that starts on a different date.

    You can specify a period rate for any period that is defined in the general ledger calendars for your finance enterprise group. When balances are translated from the From currency to the To currency, the reporting basis period is used. The reporting basis period for which the financial statements are generated is used to determine which translation rate is used.

    Rate
    Specify the applicable period rate.
  6. Click Save.