Entering Currency Information
Use the Currency window to enter and change currency information for purchase orders, RFQs, and quotations.
For purchase orders, you can change currency information until the purchase order is approved or encumbered. Note that changing the purchase order supplier to one that uses a different currency overrides any information you have entered in this region.
To enter currency information:
2. Purchasing displays the functional Currency from your Set of Books, and you can accept or change the currency. If you change currency, prices on existing lines are not converted to the new currency.
Purchasing supplies you with one of two predefined currency rate types: User or EMU Fixed. A rate type of User means that you can enter a conversion rate between the foreign currency (or transaction currency in a document entry window) and the base currency (or functional currency, defined in your set of books). A rate type of EMU Fixed means that if either your transaction currency or your functional currency is Euro (the European Monetary Unit currency) and the other is another European currency, Purchasing automatically enters a conversion Rate Date and Rate for you that you cannot change.
You can define additional currency rate types in the Daily Conversion Rate Types window, and you can enter User or one of your additional types as the default. Note that you cannot approve a purchase order without a rate type if you are not using your functional currency.
4. You can enter a Rate Date only if the currency for this document is different from your functional currency. The default is the current date. Purchasing uses this date to obtain the currency conversion rate from your conversion definitions and displays the rate if it finds one.
5. If the rate type is User, you can enter the conversion rate between the foreign currency and your functional currency. This rate corresponds to the value of your foreign currency in your functional currency. For example, if your functional currency is US Dollars, the foreign currency is British Pounds, and 1 British Pound equals 2 US Dollars, you should enter 2 in this field. For other rate types, when you enter a rate date for which a rate has been defined, Purchasing displays the rate.
To cancel your entries and return:
- Select the Cancel button to cancel your entries and return to the window from which you accessed the Currency window.
To apply your entries:
- Select the Done button to apply your entries.
See Also
Purchase Order Defaulting Rules
Defining Purchasing Options
Defining Currencies
Defining Conversion Rate Types
Entering Daily Rates
Defining Sets of Books
