Daily rates

Daily conversion rates are defined for a from/to currency combination, for a specific calendar date, or range of effective dates, rather than an accounting period.

Daily rates are particularly useful for highly volatile currencies where the rate fluctuates widely on a daily basis.

Daily rates are defined using Currency Daily Rates (CND), including the range of dates for which each rate is valid.

Currency daily rates are used only if the Use Daily Conversion Rates option is set for the currency in Currency Codes (CNC). The defined rates are used in Ledger Entry (LEN) and Ledger Import (LIM) to apply daily rates to transactions. If a daily rate has not been defined with an effective date range that includes the transaction date, you cannot enter the transaction.

Daily rates are not used for financial reporting or Ledger Revaluation (LER).