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Prerequisites

   Define rates in the GL Daily Rates Table. See: Entering Daily Rates.

   Disable the Require Exchange Rate Entry Payables option. See: Payables Options.

   Enable the Use Multiple Currencies Payables option. See: Payables Options.

   Enable the currencies you need in the Currencies window. See: Currencies Window.

   To enter a foreign currency invoice exchange rate with AutoRate:

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 Exchange Rate region, select the Type of exchange rate you want to default, such as Spot or Corporate.

Optionally change the Rate Date, which defaults from the invoice GL Date.

Leave the Rate field empty.

3. Complete processing the invoice and save your work.

4. Before you approve invoices, submit AutoRate from the Submit Request window to have Payables automatically default exchange rates to foreign currency invoices without exchange rates. If you do not run AutoRate before Approval, Payables will apply No Rate holds to all foreign currency invoices without exchange rates. No Rate holds prevent you from paying and creating journal entries for those invoices.

See Also

AutoRate Program

Foriegn Currency Invoice Restrictions

Entering Purchase Order Matched Invoices

Entering Credit/Debit Memos

Approval

Invoice Variances

Payables Options