Use this window to define version specific currency rates. Default currency is always the same currency as the accounting currency for the company. When an estimate is saved, they appear automatically as a record for the reference currency. It is always the accounting currency for the company that is defined as the reference currency, independent of currency set for the estimate. The reference currency is always defined with a currency rate equal to the conversion factor and with the Reference Currency check box selected.
The Currency Rates tab holds the default exchange rates for the estimate version where they can differ from those defined in the Company Currency Rates window. The functionality of the rates defined in this tab are the same as those used in Accounting. Currency exchange rates defined on this tab which have precedence over those defined for a possible Default Buy Currency Rate Type and the default Company Currency Rate. This means that if there are exchange rates defined in this table, they are used within the estimate. For instance converting a quote price from a supplier to the currency rate of the estimate’s owning company.
Via Right-click option Get Company Currency Rates copy currencies and rates for all currency rate types, set up for the company, with a reference currency equal to the accounting currency of the estimate company.
If no version specific exchange rates exist then at first it is possible to define Default Buy Currency Rate Type for the company considered. If not, the Default Currency Rate Type will be used.
Note: If there are sub-items which are inter-site purchased from sites which aren’t connected to the estimate company then these items are not effected by the version specific rates in the estimate. They are not affected since the reference currency for the company that includes the site for the supply item can be different from the reference currency defined for the estimate company. Therefore, can use the version specific rates entail incorrect cost values. To retrieve as correct figures as possible, possible Default Buy Currency Rate Type defined for that company will be considered. If such doesn’t exist then is the Default Currency Rate Type used.
It means that first the recalculation done to the reference currency of the
estimate company. This is done based on the relevant currency rate type for the
company maintaining the site which manufactures the inter-site purchased item.
Once that is done, a new recalculation is done to the currency defined for the
estimate, based on either version specific currency rates or else the estimate
company’s setup of Currency Rate Types.