When you enter a spot rate on an invoice or voucher, the system uses the conversion method (Y or Z) that is stored in the F0015 table it does not use the default conversion method specified in the General Accounting Constants program (P0000). To specify whether spot rates are allowed for a currency relationship, you select or clear the Allow Spot Rate check box on the Revise Currency Exchange Rates form. When you set up exchange rates for currency relationships, you must specify whether spot rates are allowed on transactions between the two currencies. The system stores exchange rates in the Currency Exchange Rates table (F0015). Or, if you have a large volume of exchange rates to set up at one time, consider using the Currency Exchange Rates Speed Revisions program (P11154) or the External Exchange Rate Processor program (R0015Z1). After the initial setup, you can continue to set up exchange rates using the Currency Exchange Rate Entry program (P0015A).
After the initial exchange rate setup, you must update currency exchange rates on a regular basis to provide a default rate for transactions and for realized and unrealized gains and losses. Unlike other setup tasks, setting up exchange rates is a recurring task. Throughout the JD Edwards EnterpriseOne Multicurrency Processing system, the from currency refers to the foreign currency and the to currency refers to the domestic currency. When you initially set up the JD Edwards EnterpriseOne system for multicurrency processing, you set up exchange rates between the currency of a company (the from currency) with whom you do business and the domestic currency (the to currency). Notice that the inverse (reciprocal) rate from EUR to USD is also quoted. This is an example of an exchange rate from USD to EUR, as quoted by an international currency site on the web. Revalue open transactions for monetary bank accounts. Additionally, exchange rates are used to:Ĭalculate realized gains and losses on foreign and alternate currency receipts and payments.Ĭalculate unrealized gains and losses on open foreign currency invoices and vouchers. The exchange rates that you set up provide a default rate when you enter a transaction. As part of working with multiple currencies, ensure that the transactions that you enter are based on the most current exchange rates as quoted in the international financial market.