Entering currency rate types
A currency rate type is used to allow different rates that use the same currency
conversion pairs within the same period.
You can create any number of currency rate types and link them to:
- Currency Period Rate
- Currency Daily Rate
- Journal Type
- Payment Profile
- Ledger Revaluation Profile
You cannot delete a currency rate type if it is:
- the Default Currency Rate Type.
- referenced by any existing Currency Period of Currency Daily Rate.
- linked to a Journal Type, Payment Profile or Ledger Revaluation Profile.
- Currency Rate Type
- The code that identifies the currency rate type. The 'Default' currency rate type can be renamed if required.
- Description
- The full name or description or comment for this currency rate type.
- Lookup Code
- A lookup code can be used to find a record, as an alternative to the record code. It is often set to a shortened version of the description. It is particularly useful if a record is often referred to using different codes. For example, the Chart of Accounts code for Fuel Expenses is 75201 and the Lookup Code is set to FUELEXP.