Defining Exchange Rates
To properly set up exchange rates for alternate currencies, you must configure the following:
Note:
Refer to the demo environment for the full example.
• Define the currency in the Currency portal.
Demo Example:
◦ Canadian Dollars (CAD)
• Configure a Characteristic Type and Value to define a single value.
Demo Example:
◦ Single Value
• Configure a Characteristic Source Algorithm for the factor which will define the conversion.
Demo Example:
◦ Factor Retrieve Single Value Characteristic
• Configure a factor to define the exchange rate to use.
Demo Example (U.S. to Canadian exchange rate):
◦ Factor: USD to CAD Exchange Rate
◦ Factor Characteristic Type: Single Value
◦ Factor Characteristic Value: Single Value
◦ Effective Date/Time: 01–01–2015
◦ Factor Value: 1.2200000
This value represents the value of your base currency converted to the foreign currency. In this case, 1 US dollar converted to Canadian.
• Add the factor to the Purchasing Master Configuration under Alternate Currency Exchange Rates.
When the currency is referenced on a vendor location and processing completes from issued purchase order through to receipt, the system calculates the converted unit price and total. The purchase order displays both values: In this example, Order Total in USD and Converted Total in CAD.
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