GL Daily Rates Table Default Exchange Rate Entry
Prerequisites
To enter a foreign currency invoice with a GL Daily Rates Table default exchange rate:
1. In the Invoices window, enter all basic invoice information (see: Entering Basic Invoices), including the Invoice Currency, and the Invoice Amount expressed in the foreign currency. Before entering distributions or matching the invoice, proceed with the next step.
2. In the Rate Type field enter the type of exchange rate you want to default from the GL Daily Rates table, such as Spot or Corporate.
Optionally change the Exchange Date, which defaults from the invoice GL Date.
Payables automatically enters the Exchange Rate from the GL Daily Rates table. If the Exchange Rate field is null, then a rate for the Currency and Rate Type and Exchange Date you entered is not defined in the GL Daily Rates table. If the Require Exchange Rate Entry Payables Option is disabled, you can continue entering the invoice, and later either enter the Exchange Rate manually or update the GL Daily Rates table and submit AutoRate.
3. Complete processing the invoice and save your work.
See Also
Foreign Currency Transactions
Foriegn Currency Invoice Restrictions
Entering Purchase Order Matched Invoices
Entering Credit/Debit Memos
Approval
Invoice Variances
Payables Options
AutoRate Program