Currency Rates (tcmcs0108m000)

Use this session to maintain the currency exchange rates between other currencies and the company's home currencies. You can define an exchange rate between the currencies for each exchange rate type.

If you use the standard currency system or an independent currency system, you can define the rates between other currencies and each of your home currencies.

If you use a single currency system or a dependent currency system, you can only define the rates between other currencies and your reference currency.

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.

Field Information

Currency Base

The currency into which the other currencies are converted.

Allowed values

If you use the standard currency system or an independent currency system, this must be one of your home currencies.

If you use a single currency system or a dependent currency system, this must be your reference currency.

The company's reference currency and the home currencies are defined in the Companies (tcemm1170m000) session.

If the base currency is the Euro, the Express in Base Currency check box is selected by default.

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.

Use for Importing Rates through BODs/BDEs

Indicates whether the exchange-rate type is used when rates are imported.

Note:

The value of this field is set in the Exchange Rate Types (tcmcs0140m000) session.
This field only applies in case of a standard currency system or an independent currency system.

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, this check box is selected by default.

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 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 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 standard costs.

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

currency exchange rate

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.