Enter Currency Rate Type

Explanation

Use this activity to enter the currency rate types, i.e., a specific list of currency codes, used within a company. This mandatory task is to be performed by a system administrator or equivalent person.

Prerequisites

• The company must exist in IFS Financials.

System Effects

• One or several currency codes and currency rates can be included in the list throughout the application.

Window

Currency Rate Types

Related Window Descriptions

Currency Rate Types

Procedure

To perform this activity, follow these steps:

1. Open the Currency Rate Types window.
2. Query for the existing currency rate types.
3. Create a new record.
4. Enter the currency rate type identity and description.
5. In the Ref Currency Code field, enter the ISO code for the reference currency code. If the currency rate category is Normal, your company's accounting currency or EUR can be used. If the currency rate category is Project or Tax Reporting, any currency can be used as reference currency.
6. In the Default Type list, click Yes or No.    
7. In the Rate Type Category list, select either Normal, Project or Tax Reporting.