Currency Period Rates (CNP) - General

  1. Specify this information:
    Multiply or Divide
    Choose to Multiply or Divide the From currency amount by the period rate to determine the To currency amount.
    Conversion Rate
    The currency conversion rate for the period.
    Conversion Rate Decimal Places
    The number of decimal places that are used in the currency conversion calculation. The conversion rate is rounded to this number of decimal places before it is used in the calculation.
    Rate Tolerance Checking
    If this option is chosen, a tolerance check is performed on any rates you enter or rates calculated by the system. This allows you to apply a sanity check to the rates to stop any unrealistic rates being entered and used by mistake.
    Rate Tolerance Percentage
    If tolerance checking is required, this is the maximum tolerance allowed for the period rate. The percentage difference between the rate entered or calculated, and the rate in the Conversion Rate field above must be within this percentage. If the Override Rate Tolerance field in Journal Type is selected, the level identified here is invalid.
    For zero tolerance, it is set to the nearest currency sub-unit. For example, a practical 0.01% tolerance level is applied for a 0.00 setting in order to avoid creating a mathematically impossible situation.
  2. Save your changes.
Parent topic: Entering currency period rates