| Currency Rates (tcmcs0108m000)You must first define at least one exchange rate type in the Exchange Rate Types (tcmcs0140m000) session. Use the Group menu or the Group buttons
to list the currencies and exchange rate types. Choose New on
the Group menu to define
exchange rates for a new currency exchange rate type. To make a new rate valid, you must select the Rate Approved check box. If you save the data, LN enters the date and
time of approval in the Approval Date field. You cannot undo the approval of a new rate. To correct a
mistake, you must define another new rate that is correct and approve the new
rate. The effective date By default, LN enters the current date and time in the Effective Date field. You can enter an effective date
that is earlier than the current date. However, the new effective date must be
later than the most recent date on which cost calculation of items was
performed. Note A currency rate can only take effect if the Rate Approved check box is selected. Currency Base The currency into which the other currencies are converted. If the base currency is the Euro, you must select the Express in base currency check box. Currency The currency that is converted to the currency base. Exchange Rate Type The exchange rate type to which you link the currency rate. You can use exchange-rate types to specify different
currency exchange-rates for different types of transactions for example, for
purchase transactions, sales transactions, and internal calculations and
conversions. You must enter currency rates for each of the company's
default exchange rate types that you selected in the Companies (tcemm1170m000) session. Express in base currency If this check box is selected, LN uses the currency exchange rate to convert
the base currency into the foreign currencies. If this check box is cleared, LN uses the currency exchange rate to convert
the foreign currencies into the base currency. Note If the base currency is the Euro, you must select this
check box. Effective Date The date and time from which the currency exchange rate is
valid. Each rate is valid until the effective date of the next currency
exchange rate. By default, LN enters the current date and time in the Effective Date field. You can enter an effective date
that is earlier or later than the current date. A currency rate can only take effect if the Rate Approved check box is selected. The currency
rate takes effect either at the date and time of the Effective Date field or the Approval Date field, whichever is the later. To change the internal currency rates for earlier
dates The effective date and time of a new currency rate can be
earlier than the current date and time if one of the following conditions is
true: - The exchange rate type is not Internal.
- The company uses the standard currency system.
- The company uses a single currency system.
- The company uses an independent currency system.
- No item cost price calculation has been performed after the
entered effective date.
If the company uses a dependent currency system, LN uses the internal
currency rates for cost price calculations. In such a system, you cannot add a
new internal currency rate for a period during which LN already used the
currency rate to calculate item cost prices. For details, see Multi currency aspects of cost price calculation. Note If you print invoices, LN always consults the Currency Rates (tcmcs0108m000) session to find the purchase rates and sales rates
that apply to the invoice. Currency Rate The factor by which an amount in a different currency is
multiplied to calculate the amount in the currency base. Rate Factor Use the rate factor to avoid extremely high or low values of a
currency exchange-rate. Default value The default rate factor = 1.00. If you selected the Express in base currency check box, LN divides the amount in the currency to be converted by the rate
factor before multiplying the amount by the currency rate. If you cleared the Express in base currency check box, LN multiplies the amount in the currency to be converted by the rate
factor before multiplying the amount by the currency rate. Defined Rate The result of the specified currency exchange rate and rate
factor. Rate Approved To approve the rate, select this check box. If you save the data, LN enters the date and
time of approval in the Approval Date field. You cannot undo the approval of a new rate. To correct a
mistake, you must define another new rate that is correct and approve the new
rate. Approval Date The date and time when you approved the rate. | |