Currency exchange

Currency exchange is the process used to convert a transaction in a currency other than the base currency to the base currency, using daily exchange rates.

Uses of currency exchange

You can specify a transaction amount in any currency that were defined in the currency table assigned to the company and from any application that allows transaction entry. The amount is then immediately exchanged to the company's base currency, using the currency table exchange rate. All Lawson applications accommodate currency exchange.

Example

Pierre's Catering Service invoices LGE Corporation for 1500 GBP on March 15. The exchange rate is 0.1642. Therefore, the invoice is exchanged to $246.30 (1500 GBP* 0.1642) in the base currency.