You use the Currency Exchange Rate table to register exchange rates for foreign currencies and to specify from which dates the exchange rates are valid. For example, you can enter daily exchange rates, monthly exchange rates or quarterly exchange rates for each foreign currency.
You can register exchange rates for each of the codes in the Currencies window. From the Currencies window, click the Exch. Rates button. The Currency Exchange Rates window appears for the relevant currency.
When you post a foreign currency transaction, the program uses the posting date on the invoice or journal line and the information in the Currency Exchange Rate table to find the relevant exchange rate. If a posting date is not specified (for example, on a purchase requisition), the program uses the work date to find the corresponding exchange rate.
If you post in an additional reporting currency, the program also uses this table to find the appropriate exchange rate to calculate additional-currency amounts on G/L entries.
Note that in order to post exchange rate gains and losses, you must run the Adjust Exchange Rates batch job and register the adjustment exchange rates that will be used by the batch job. You register the adjustment exchange rates by filling in the Adjustment Exch. Rate Amount field and the Relational Adjmt. Exch. Rate Amt. field.
If you post in an additional reporting currency, you must retain all the currency-related information you enter in this table for the currency used as the additional reporting currency.