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This window appears when you: § Complete your replies in the currency window if there is only one exchange rate table. § Select Maintain Rates from the Exchange Options Menu if there is only one exchange rate table, § Complete your replies in the New Rates window, |
Purpose |
This window enables you to add new exchange rates to, and amend and delete existing rates in, the selected exchange rate table. This window lists existing exchange rates in the table for converting from the currency selected in the Currency Parameters Window. This currency is displayed in the title bar of the window, and is referred to below as the 'from' currency. |
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The entries in this window define an exchange rate for converting from the 'from' currency to the currency defined for the entry (the 'to' currency). Each entry can optionally be restricted to a time period for which the rate is valid by entering start and expiry dates. |
Move through list |
You can move through the table using the cursor and <Page Up> and <Page Down> keys in the standard way. |
Add |
To create a new entry, move the cursor to the line below the last entry in the list. Alternatively press <F5> to insert an entry into the list, or press <F4> to go into 'Add' mode. The prompts are described below. |
Note |
When you add an entry in this window, a corresponding entry with the 'from' and 'to' currencies transposed is automatically added to the exchange rate table. Both entries have the same rate, and the operation (Op) is set to multiply on one and divide on the other. |
Amend |
To amend an entry, position the cursor on the required line and press <Return>. |
Note |
We strongly recommend that you maintain a complete exchange rate history for as long as you retain your transaction history. So when an exchange rate changes, do not amend or delete the existing entry, rather create a new entry with the start date set appropriately. |
Warning |
Amending or deleting old rates when transactions still exist that require those rates can lead to errors. |
Delete |
To delete an entry, position the cursor on it and press <F7>. You are asked for confirmation before the entry is deleted. |
Note |
In this documentation we use the term 'floating exchange rate' to mean an exchange rate between two currencies, neither of which is a sub-currency, which may vary from day to day and which can be overridden with a spot rate during transaction entry. |
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We use the term 'fixed exchange rate' to mean an exchange rate that is fixed for a specified time period between a master and a sub-currency. Fixed exchange rates cannot be overridden with spot rates in Global 3000. When necessary, a fixed rate can be changed, either by amending an entry in this window, or, preferably, by creating a new entry with new start and expiry dates. |
The prompts are:
Type |
This defines the relationship between the 'from' and the 'to' currencies. Valid settings are: § N Normal. This defines the exchange rate as a normal variable rate between two currencies, neither of which is a sub-currency. |
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§ M Master. This defines the exchange rate as a fixed rate between a master 'from' currency and a 'to' sub-currency. This setting is only valid when the 'from' currency is defined as a master currency in the Currency Parameters Window. |
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The rate must be defined as the figure the master currency is multiplied by to give a value in the sub-currency. |
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When you enter a new entry of this type, a corresponding type S entry is automatically added to the exchange rate table for the sub-currency. |
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§ S Sub-currency. This defines the exchange rate as a fixed rate between a 'from' sub-currency and a 'to' master currency. |
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The rate must be defined as the figure the sub-currency is divided by to give a value in the master currency. |
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When you enter a new entry of this type, a corresponding type M entry is automatically added to the exchange rate table for the master currency. |
Note |
It is the presence of a type S entry in the table that defines a currency as a sub-currency. The currency is only a sub-currency during the time defined for it on the type S entry or entries in the table. There can be no other exchange rates defined for the currency for the same time period; during this time all currency conversions involving the sub-currency are made via the master currency. |
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If a sub-currency withdraws from a master currency, you set the expiry date on the last type S entry for the currency in the table to the date of withdrawal. |
Op |
This indicates whether the 'from' currency is multiplied or divided by the exchange rate to convert it to the 'to' currency. Enter one of the following: § * to multiply values in the 'from' currency by the exchange rate to convert them to values in the 'to' currency. |
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§ / to divide values in the 'from' currency by the exchange rate to convert them to the 'to' currency. |
Note |
For type M entries, this is automatically set to * and the prompt is skipped. For type S entries, this is automatically set to / and the prompt is skipped. |
Rate |
Enter the exchange rate. This can be specified to six decimal places of precision. |
Note |
Global 3000: § Always converts to and from a sub-currency via the master currency. |
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§ Holds the intermediate master currency value to six decimal places. (When converting values of 1000 billion (US) and more in General Ledger and Project Ledger, Global 3000 can only maintain three places of precision.) |
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§ Establishes the value in the currency being converted to, and then rounds this value to the currency's decimal precision. |
To |
Enter the code of the currency you are converting to; i.e. the 'to' currency. If the entry type is S, you can only enter a currency which is defined as a master currency. Press <F1> for a list of valid currency codes. |
Starts |
Set this to the first day on which the rate is valid. If this is the earliest rate in the table for this combination of currencies, leaving this prompt blank means it is used to convert all values that are dated on or before the expiry date. |
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If you are adding a new entry, and there are other entries for this combination of currencies already in the table, you cannot enter a start date which falls within the date ranges covered by the existing rates. |
Expires |
Set this to the last day on which the exchange rate is valid. If this is the last rate in the table for this combination of currencies, leaving this date blank means it is used to convert all values that are dated on or after the start date. |
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If you are adding a new entry, and there are other entries for this combination of currencies already in the table, you cannot enter an expiry date which falls within the date ranges covered by the existing rates. |
On completion |
Þ Next line in the window. |
On exit |
If only one exchange rate table has been defined Þ Exchange Options Menu. Otherwise Þ Exchange Rates From Window. |