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If a foreign currency invoice has no exchange rate, Approval applies a No Rate hold to the invoice, which prevents payment and posting of the invoice. After AutoRate enters an exchange rate for the invoice, the next time you run Approval, the system will remove the No Rate hold. Payables will not post foreign currency payments that have no exchange rates. After AutoRate enters an exchange rate for a payment, AutoRate creates payment distributions. The payment distributions include credits to the Asset Accounts as well as any discount distributions.
The AutoRate program does not produce any output; however, if the AutoRate program creates invalid payment distributions for a foreign currency payment, Payables automatically prints the Undistributed Payments Report.
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