Changing a Currency Rate

Where a currency type is linked to an account or nominal to which transactions are posted, you may need to change an exchange rate for the currency type. For example, a change to the currency your establishment/organisation use for one of your suppliers has occurred on the stock exchange and needs to be updated from a certain date to ensure the correct exchange rate is applied to transactions recorded on or after the date.

  1. Select Maintenance, then select Currencies from the menu.
  2. The Currency Maintenance window is displayed. Select the currency type for which you want to change the exchange rate from the left-hand panel, select the Rates tab, then select EDIT.
  3. Select the Start date, then enter the exchange rate amount you want applied from the selected date in Rate (do not enter any currency symbols, i.e., £, $, etc.) The exchange rate amount is displayed against the date in the calendar.
  4. Enter any additional required rates as described in step 3, then select SAVE to confirm the details.
  5. An Update complete message is displayed. Select OK to close the message and return to the previous window.