Currency Rules

In a multi-currency environment, this determines whether you can settle by currencies other than the base currency in payments or collections. You can select Base Currency, Transaction Currency, or 4th Currency; alternatively set this option to Default in order to use the default setting for the ledger, as defined on the Currency tab of the Ledger Setup (LES).

Whichever currency option is selected here, the amounts for the other currency values (base, transaction, and reporting currencies) are calculated according to the Pivot Currency option selected from Business Unit Setup, and for Value 4, if necessary, from the 4th Currency Calculate From option on the Value 4 tab of the Business Unit Setup. The exchange rates used depend on the following options:

In a multi-currency environment, this option determines the basis for which exchange rates are derived for payments and collections. Even if you are only paying transactions in your base currency, for example, the reporting currency amount must still be calculated.

Set this option to Yes in order to calculate the different currency values during payments and collections using the current exchange rates, as defined in Currency Period Rates (CNP) or Currency Daily Rates (CND). Set to No in order to use the original exchange rates (sometimes referred to as 'historic rates') that were posted on the source transactions being paid or collected. Set this option to Default in order to use the default setting for the ledger, as defined on the Currency tab of the Ledger Setup (LES).

If the associated option on the Ledger Setup (LES), Pay at Current Rates, is set to No, you cannot set it to Yes on any payment profiles.

In a multi-currency environment, this option determines whether the derived currency exchange rates can be overridden during Payment Run (PYR) and Payment Collection Run (PYC). Set this option to Yes in order to display the Currency Rates Override form during payments and collections, allowing amendment of the currency exchange rates.

If the associated option on the Ledger Setup (LES), Rates Override, is set to No, you cannot set it to Yes on any payment profiles.

In a multi-currency environment, this option refers to the currency selections on the Currency Threshold and Additional Currencies tabs. This determines whether the currency selections in this payment profile refer to the Transaction Currency (Value 2), or the 4th Currency (Value 4). This does not refer to the payment currency, which is determined using the Currency For Payments option.

Currency Rate Types can be used for specific Payment Profiles so that when a payment journal is posted using this payment profile, the selected currency rate is automatically used. The currency rate type is only used if Pay at Current Rate is selected.

Select a currency rate type from the list. If it is not specified the DEFAULT rate type is used.

Indicates whether the Value 4 currency code, if used and defined as variable, is included on payment transaction lines posted to the supplier account.

Indicates whether the Value 4 currency code, if used and defined as variable, is included on payment transaction lines posted to the bank account.