Currency relationship

Currency relationship considerations

• A currency relationship is always associated with a currency table. If you want to define different exchange rates for the same relationship, then you must define two separate currency tables and define the relationship in both. For translation rates, you can define different rates for the currency table and for various companies using the table.

• The currency table assigned to your company must contain all the currency relationships the company is going to use.

• A currency table can contain more relationships than the company needs. This would typically be the case if you are sharing the table among several companies who share some currency relationships but also have relationships that are unique to each.

• A currency relationship is uni-directional. If you define a relationship from the Canadian Dollar to the US dollar, then you can convert from the Canadian Dollar to the US Dollar, but not from the US Dollar to the Canadian Dollar. You must create a second relationship.

• You must define a currency relationship between each currency code that you convert amounts from and to.

  • You must define a relationship from each transaction currency you use to the company base currency.

  • If you use report currencies, then you must define a relationship from each transaction currency you use and each report currency that you define.

  • If you have an account currency, then you also need to define relationships between each transaction currency posted to the account and the account currency.

• You can add currency relationships to a currency table at any time before you enter a transaction that is going to use the relationship. The Lawson applications where you enter transactions will not let you add a transaction that requires conversion if a relationship does not exist for the currencies involved in the conversion.