Defining currency relationships (AR/CU)

A currency relationship identifies rules for exchange and translation between two currency codes in a currency table.

You must define the currency table and all the currency codes your company will use before you can define relationships between the currencies. Follow these steps to define currency relationships:

  1. AccessCurrency Relationship (CU02.1) .
  2. Define currency relationships, one at a time. Use these guidelines to specify the field values:
    Currency Table

    Select the currency table assigned to your company.

    From Currency

    Select the transaction currency from which you are converting.

    Note: When you define a Currency relationships, conversion is from a transaction currency to a base or report currency. If the Auto Generate property for the table is set to On, then the opposite relationship is also created (unless one already exists).

    For example, if a company has a base currency of USD (US dollar) and a report currency of CAD (Canadian), and transactions are entered in EUROs, then you must define a relationship from EURO to USD and another relationship from EURO to CAD.

    To Currency

    Select the base or report currency to which you are converting.

    Multiply or Divide

    Select whether the conversion requires a multiplication or division.

    Triangulate

    For information, see the Triangulation section listed in the table of contents of this guide.

    Override Protection

    If you select Yes, then you will not be able to override the exchange rate when you specify a transaction, regardless of the override tolerance.

    Override Tolerance

    Indicate by what percentage, if any, you can override the currency exchange rate on a journal entry. If you leave the field blank, then 0 will default. No editing will take place, and any override rate is accepted.

    Exchange Status

    Select Active. If the value is Inactive, then applications will not be able to use the relationship to exchange currencies.

    Translation Status

    Select Active. If the value is Inactive, then applications will not be able to use the relationship to translate currencies.

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