Consolidated Exchange Rates vs. Currency Exchange Rates

The following table summarizes the differences between consolidated exchange rates and currency exchange rates:

	Consolidated Exchange Rates	Currency Exchange Rates
Applied to:	Consolidated reports and transaction saved search	Transactions
Set per:	Accounting period	As of effective date
Each rate translates between:	Base currencies for one pair of related subsidiaries	Base currency and one foreign currency
Updated by:	Manually editing, auto calculating rows, or both in the Consolidated Exchange Rates table. You should auto calculate consolidated rates for each accounting period before closing the period. See Using the Period Close Checklist.	Manually adding new rows with new effective dates to Currency Exchange Rates list, or using Currency Exchange Rate Integration feature for automatic daily updates.

Consolidated Exchange Rates

Currency Exchange Rates

Applied to:

Consolidated reports and transaction saved search

Transactions

Set per:

Accounting period

As of effective date

Each rate translates between:

Base currencies for one pair of related subsidiaries

Base currency and one foreign currency

Updated by:

Manually editing, auto calculating rows, or both in the Consolidated Exchange Rates table.

You should auto calculate consolidated rates for each accounting period before closing the period. See Using the Period Close Checklist.

Manually adding new rows with new effective dates to Currency Exchange Rates list, or using Currency Exchange Rate Integration feature for automatic daily updates.

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