Rate tolerance checking

Tolerance checking is used to ensure that realistic currency exchange rates are entered or calculated throughout the system. It is also used to ensure adherence to official euro rates.

If you manually enter an exchange rate on a transaction, or the system calculates a rate from other currency values, the tolerance checks ensure this new rate is within the selected percentage of the system rate.

For example:

The currency GBP to EUR rate for a period is 1.63 and the tolerance percentage is set to 10%. If you entered a rate of 163 (instead of 1.63), the difference between 1.63 and 163 is more than the 10% tolerance allowed for this rate, so the rate of 163 would be rejected.

Setting the rate tolerance requirements

Rate tolerance requirements are set in Currency Period Rates (CNP) or Currency Daily Rates (CND). If tolerance checking is required, then the Rate Tolerance Checking option must be selected and the allowable tolerance must be specified in the Rate Tolerance Percentage field.

Any manually entered or calculated rates for the currency rate must be within this percentage of the corresponding system rate.