Overview
Exchange Rate Settings is a company level screen used to configure the settings that will determine the rate sources and lookup logic to be used for your Exchange rates.
Navigate to the screen by utilizing the Global Search, and select a company in the Platform.
Settings
Configuration on this screen has 2 sections:
Rate Source
The Rate Source determines whether the system will lookup from the System Level or Company Level FX rates. Choose from two values: Company and System.
Exchange Rate Lookup Logic (Date Sensitivity)
This will determine how the system rate look up will find a match for the Effective Date.
Exact Date Match – The rate lookup will find an exchange rate with the exact effective date.
Exact Month Match – The rate lookup will find an exchange rate with the same month and year.
Date Match Within Range - The rate lookup will also look at a specified number of days before and after the Effective Date. The lookup will use the most recent exchange rate within the range.
Exchange Rate Logic also uses Rate Matches for the combination of the Base Currency and To Currency in the system. This is a backend logic and customization is not possible. To know more about rate matches, additional information is available in the Exchange Rate article.