Use the Exchange Rate Tables screen to set up and maintain exchange rates for the currencies you will be using. This screen is available for use only when the Multicurrency module is enabled in your Beyond Software system.
Select Financials | Setup | Exchange Rate Tables.
In Table ID, specify a unique ID for the table. For example, if the table is for the U.S. Dollar to Canadian Dollar exchange rate, you could enter “USD-CAD” or “USD to CAD”.
In Description, specify a description for the table, such as “US Dollar to Canadian Dollar”.
In From Currency, specify the first currency named in the table ID. The default value is the company base currency, but this can be changed as needed. In our example, the From Currency would be USD.
In To Currency, specify the second currency named in the table ID. In our example, this would be CAD.
In Rate Source, specify where you are getting your exchange rate information. For example, you could enter xe.com or another website. This field is not required and is for informational purposes only.
In Calendar Year, the current calendar year is specified by default.
In the Exchange Rates section, specify the Effective Date and the Exchange Rate based on data provided by the source you are using for rates. For the exchange rate, you can specify up to six digits to the right of the decimal place.
Click Save and New, or click Save and then click New, to save the current exchange rate table and start adding the next.
Currency exchange rates change continually, and you must update your rate tables regularly, based on your organization’s requirements. Current exchange rates can be found on various websites, including federalreserve.gov and xe.com.
Select Financials | Setup | Exchange Rate Tables.
Choose from the following options. (The second option may be preferred if you have many exchange rates to update.)
Click Find on the main toolbar, open the rate table to work with, and add the new effective date and exchange rate. Click Save.
Click the Add Exchange Rate button, click Lookup to find the rate table to work with, and add the new effective date and exchange rate. Click Save.
Repeat for as many exchange rates as needed.