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.