Currency Rates

Purpose

The exchange or conversion rates between Currencies that are used when On Key is operating with multiple currencies must be defined before transactions and other records are captured.

How to… View Currency Rates

1. Click Financials - Currency Rates then Browse.
The Currency Rates browse window opens.

Business rules

A Currency Rate cannot be changed after it is saved; a new record must be added for the same pair of currencies.
A saved Currency Rate cannot be deleted.
The currency conversion rate must be greater than zero.

Please note!

The system option Display Multiple Currency Fields must be ticked on the System Options - General tab.
A conversion rate from Site Currency into the Base Currency must exist on the Currency Rates table when a record or a transaction that includes a Currency is captured.
Conversion rates for Currencies can be imported every day.
The latest conversion rate for a Currency is used when a transaction is captured.
Maintain currency conversion rates regularly to avoid operational problems.