Set Up Conversion Rates and Rate Types to Create Payables Invoices in Multiple Currencies

Set up currency conversion rates and rate types to use when creating payables invoices in a currency that’s different than the primary ledger currency of the managing business unit.

Set Up Conversion Rates

See the instructions provided in Daily Rates to set up currency conversion rates in the Currency Rates Manager work area. To access this work area, navigate to Setup and Maintenance, select the Financial Reporting Structures functional area, and click the Manage Daily Rates task.

Set Up a Conversion Rate Type

1. Navigate to Setup and Maintenance.

2. On the Setup page, open the Tasks panel and search for Manage Common Options for Payables and Procurement.

3. Select a business unit from the Business Unit drop-down list.

4. In the Currency Conversion section, complete the fields to set up a default conversion rate type for the business unit.