Overview
Exchange Rates (also known as FX rates) are stored within the Equus Platform to perform conversions from one currency to another.
The exchange rates are used within Cost Estimates, Compensation Calculations / Balance Sheets, Compensation Worksheets. They can also be used on User Reports. Rates are stored at both company under exchange rate setting or system level:
Company Level
Navigate to the company level Exchange Rate Settings screen through the Global Search, and select a company in the Platform.
System Level
Navigate to the system level Exchange Rate screen through the Global Search.
Exchange Rates are defined by the following parameters:
From Currency - this is also called the Base Currency - the currency to convert from
To Currency - this is the currency to be converted into.
Note: Only currencies available in the currency table are supported for both From and To Currency
Effective Date - is used in conjunction with the effective dates of features such as Cost Estimates and Compensation Calculations when running lookup functions.
Rate - the conversion factor to be used
Exchange Rate Setting and Lookup
Exchange Rate Settings can be configured to determine the rate sources and lookup logic. Configuration setup is detailed in this article.
Exchange Rate Lookup also uses Rate Matches depending on the combination of the 'Base Currency' and 'To Currency' used.
Rate Matches
Exact Match - The From and To Currency exactly match a record in the Exchange Rate table. The exchange rate is pulled directly without modification.
Inverse Match - The From and To Currency are reversed in the Exchange Rate table. The exchange rate will be calculated as the inverse of (1 / rate).
Triangulated Match - When no currency match is identified, a third currency will be identified as the Base currency and will be used to identify the exchange rate. The exchange rate will be calculated depending if you are using company-level or system-level rates.
If you are using company-level FX rates, you need FX rates for: Company Base Currency -> From Currency and Company Base Currency -> To Currency
If you are using system-level FX rates, you need FX rates for: System Currency -> From Currency and System Currency -> To Currency
Note: The system follows a certain logical order: Exact Match -> Inverse Match -> Triangulated Match
Things to note:
The most recent exchange rate will be used if multiple is found within the date range.
An exchange rate from any currency to itself is always 1.
Exchange rates can be uploaded at both the company and the system level. More info on the Exchange Rate Import article
Exchange rates are stored in the data tables: ‘Currency Exchange Rate Company’ and ‘Currency Exchange Rate System’ for reporting
Exchange rate can be used for a calculation in a user report with the DBO function: DBO.EQ_STD_EXCHANGE_RATE_GET