Managing Exchange Rates

The information below is for the Accounting exchange rates solution. If you are using Foundations exchange rates in your org, see Foundations Exchange Rates Integration for more information.

To manage exchange rates between your accounting currencies and your home currency, edit exchange rates as described here.

A Accounting company can operate in one of two exchange rate modes. See About Exchange Rates for more information.

To manage dated exchange rates:

  1. Click the Exchange Rates tab. This opens the page in View mode.
  2. Choose whether you want to see the set of org-wide rates, or the exchange rates for a specific company.
  3. [Optional] If you selected company-specific, select a company.
  4. Select the date that you want to see rates for. The default is today. The exchange rate grid is updated. There is a column for each home currencyClosed The main working currency of the current company. in your org and a row for each accounting currencyClosed The currency in which your company does business. A company can have more than one accounting currency..
  5. Click Manage Rates to enable you to add new rates and edit existing ones.
  6. [Optional] Change the selected mode and date. If a company is using org-wide exchange rate mode, an effective date is associated with that mode. Any org-wide exchange rates you create will apply to new and "In Progress" documents from the mode effective date onwards.
  7. Enter exchange rates for the non-home accounting currencies available to you. When you click an editable cell, the bottom border turns green and a Delete Rate icon is displayed.

    If the effective date is later than the date of the existing rate, a new exchange rate record is created. If the effective dates are the same, the existing rate is updated. Where possible, inverse (reciprocal) exchange rates are automatically calculated and entered for you. For example, if you enter a base rate (USD to GBP = 1.55015), the inverse rate to nine decimal places (0.645098861) is calculated and entered for you.
  8. [Optional] If you change your mind during an edit, click the Revert icon next to the corresponding exchange rate to go back to the original rate.
  9. When you are finished, click Save.
Note:

If you encounter issues with decreased performance, it might be related to the way Accounting stores exchange rates. See Cache Objects Management for more information.

Deleting an exchange rate

To delete a single exchange rate, click the Delete Rate icon next to the corresponding exchange rate.

In an org-wide exchange rates context, you can delete the whole set of exchange rates for a specific non-home accounting currency by clicking the icon to the left of the table row.

Note:

You can also access this page from Exchange Rates related list on any Accounting Currency detail page. Click the Manage Rates button to open this page in Edit mode. If you don't see this button, contact your administrator.