Define Version Specific Currency Rates

Explanation

This activity is used to define version specific exchange rates. There are two options to define the version specific exchange rates;

• Create new records in the Estimate/Versions/Currency Rates tab, use the list of value to select a currency code and define the exchange rate for the owning company’s reference currency code.

Note: A reference currency is always defined when saving the estimate. Reference currency is always equal to the accounting currency for the company defined in the estimate header.

• Right-click option Retrieve Company Currency Rates.

In the Get Currency Rates dialog box it is just possible to enter or select currency rate types that are defined with a reference currency equal to the accounting currency for the company in the estimate header. This is independent of which currency code that is defined for the estimate. All currency codes defined for the selected currency rate type are fetched and corresponding records are automatically established. Once the records are established, there is no connection with the selected currency rate type, updates/modifications can hence be performed without any restrictions.

When using the Get Currency Rates dialog box to copy a currency rate type, the version valid from date is considered when copying the currency rates. Only the currency rates which have a valid from date matching the valid from date for the version are copied.

Prerequisites

This activity requires that:

•  An estimate exists and it cannot be in Confirmed, Completed, Closed or Canceled status.
•  A version exists in status InProgress, PartlyCalculated or Calculated.

System Effects

Version specific exchange rates are established for a revision of an estimate id.

Window

Estimate

Related Window Descriptions

Estimate/Versions/Currency Rates

Procedure

1. Open the Estimate Header window and query for the required Estimate ID.
2. Click on the Estimate/Versions/Currency Rates tab.

Note: A reference currency is already defined, it was defined when saving the estimate. The reference currency is always equal to the accounting currency for the company defined in the estimate header.

3. Create a new record, use the list of value to select a currency code and define the exchange rate, Save.

Note: Use right-click option Retrieve Company Currency Rates in order to automatically fetch exchange rates, this for a Currency Rate Type with a reference currency equal to the accounting currency for the company in the estimate header