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.

  Note:

  The base package contains the Factor Characteristic Source Single Value (W1-FCSV) characteristic type that be used for this.
  Demo Example:

  • Single Value
• Configure a Characteristic Source Algorithm for the factor which will define the conversion.

  Note:

  The base package contains the Retrieve Characteristic Value from Input Factor Characteristic Source Algorithm (W1-RETCVFCS) algorithm that be used for this.
  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.