The Exchange Rate application has two functions:

• Define Exchange Rates
• Maintain Exchange Rates

To define or maintain Currency Rates, click Exchange Rates in the System node. A date filter selection dialogue will display. This will allow the selection of the date range that rates are to be entered for or for existing rates to be scrolled. The default date range scroll is one month prior to todays date to one month past todays date.

Each currency code created needs to have a valid currency exchange rate defined.  This includes one currency to another, and for the system to operate an exchange rate of 1.00000 is required for each currency to the same currency. In this example, NZD to NZD has an exchange rate of 1.000000

Completed Exchange Rate Example

NOTE: Inverse rates are not required when the two currency codes are the same and the rate is 1.0000000.

Create Exchange Rates

1. Select menu Home > System > Code Setup.

   1. Click the Home menu to expand it:

      

   2. Click the System menu option to expand it:

      

   3. Click Code Setup to go to the Code Setup menu:

      

2. Select menu Code Setup > System > Exchange Rate.

   1. Click the Code Setup menu to expand it:

      

   2. Click the System menu option to expand it:

      

   3. Click Exchange Rates to open the Exchange Rate screen:

      

3. On the Exchange Rate list screen, if the exchange rate required is not already in the list, click Insert.
   

   NOTE: The date Rate From defaults to one month prior to today's date, while Rate To defaults to 1 month past today's date - change either of these as required.

   

4. On the Exchange Rate screen, enter Currency From, Currency To and Exchange Rate value.

   

   NOTE: In the Rate Type field, Rate Multiplier means Currency From is multiplied by the exchange rate to get Currency To.

5. Check the completed screen.

   This example shows the exchange rate between NZD to AUD for the date range given.

   

6. Click Save to keep the changes.

   

7. Click Exit to discard any changes.

   

NOTE: After clicking Save, the screen clears, ready for another exchange rate – continue adding currencies or click Exit to close the screen.

Currency From

Select the pre-defined input Currency From the drop-down list.

Currency To

Select the output Currency Trom the drop-down list, again currency codes would need to have been set-up in Code Setup to be available here.

Currency Subcode

If a Currency Sub-Code is to be used for this exchange rate, select the sub-code from the drop-down list, otherwise leave this field blank.

Applies From

Enter the date that the exchange rate is to be valid from. Manually type the date, or use the calendar provided.

Applies To

Enter the date that the exchange rate is to be valid to. Manually type the date, or use the calendar provided.

Exchange Rate

Enter the exchange rate. This value can be up to 16 characters - 8 to the left of the decimal point and 8 to the right of the decimal point.

Rate Type

Two rate types are available - Rate Multiplier or Rate Divisor. Indicate if the exchange rate is to be multiplied or divided by selecting either correct radio button.

Update Inverse Rate

If the inverse rate check-box is selected, the system will also create the inverse rate using the converse divisor at the same exchange rate in the Exchange Rate field.

Maintaining Exchange Rates

1. Select menu Home > System > Code Setup.

   1. Click the Home menu to expand it:

      

   2. Click the System menu option to expand it:

      

   3. Click Code Setup to go to the Code Setup menu:

      

2. Select menu Code Setup > System > Exchange Rates.

   1. Click the Code Setup menu to expand it:

      

   2. Click the System menu option to expand it:

      

   3. Click Exchange Rates to open the Exchange Rate screen:

      

3. In the Filter screen, select the required filters, and click the green filter button.

   

4. Select the exchange rate line to be amended.
5. On the Exchange Rates screen, make the required amendment.
6. Check the completed screen.
7. Click Save to keep the changes.

   

8. Click Exit to discard any changes.

   

NOTE: Exchange Rate Maintenance Screen, the Applies From/Applies To dates and exchange rate can be modified. Checking the Update Inverse Rate box will automatically update the Inverse rate of the currency codes for the same dates.

Rate Filters can be set to narrow down the search results. Filters can be by rate date from and to, and/or currency from and to.