MANAGE EXCHANGE RATE GROUPS

Use the Exchange Rate Groups screen to create groups of exchange rates that use rate information from a common source. These groups consist of exchange rate sources (created on the Manage Exchange Rate Sources screen) and combinations (to-from pairs) of currencies to be translated. In addition, Costpoint can notify you when currency rates fluctuate more than a set percentage. You can group currencies by geographic areas or by your company's business regions.

You can create exchange rate groups at any time.

Location

Identification

Rate Group

Enter up to six alphanumeric characters to identify the rate group. You cannot change a rate group identifier after you save it, but you can enter new rate groups at any time.

Description

Enter up to 35 alphanumeric characters to describe the rate group. You can change this description at any time.

Rate Source

Enter, or click to select, the source code for the exchange rate source for the rate group. You set up rate sources on the Manage Exchange Rate Sources screen.

Table Window

Click on the table window toolbar to start a new row.

Currency From

Enter, or click to select, the originating currency's three-letter code. In your accounting transaction, this is the "beginning" currency.

Currency To

Enter, or click to select, the destination currency's three-letter code. In your accounting transaction, this is the "ending" currency.

Rate Change Tolerance %

Enter the rate change tolerance for the currencies entered in the Currency From and Currency To columns.

Costpoint compares the tolerance that you enter in this field to the rate fluctuation entered on the Manage Exchange Rates by Date and Manage Exchange Rates by Period screens. This change is measured up and down (both positive and negative percentage change to the rate). If the fluctuation exceeds the tolerance rate set here, you get an error message in the Manage Exchange Rates by Date and Manage Exchange Rates by Period screens.

For example, you enter 10 in the Rate Change Tolerance % column. On the Manage Exchange Rates by Date screen, you enter an exchange rate of 2.3 in the Rate Amount column on one line. When you start the second line, you cannot enter an exchange rate higher than 2.53 (2.3 + 10%) or lower than 2.07 (2.3 - 10%). If you enter a number outside that range, you receive an error message.

Costpoint also displays an error message in the Manage Daily Exchange Rates screen when you enter a daily rate that falls outside the percentage range. This is especially helpful during data entry if you enter your exchange rate data incorrectly.

Allow Spot Rate Override

Select this check box to allow users to override rates during data entry in a variety of Costpoint screens, such as the Exchange Rates subtask for the Manage Accounts Payable Vouchers, Manage Purchase Order Vouchers, and Manage Purchase Orders screens.

Notes

Enter notes about your exchange rate group rows of up to 254 alphanumeric characters.

Currency From Name

This column displays the formal name of the currency entered in the Currency From column. You specify currency formal names on the Manage Currencies screen.

Currency To Name

This field displays the formal name of the currency entered in the Currency To column. You specify currency formal names on the Manage Currencies screen.