Parameters - Forex Rates
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Purpose
This document allows the user to establish foreign exchange rates, and to update the buy and sell rates of those currencies.
Prerequisites
There are no prerequisites to setting up foreign exchange rates.
Context
A Forex (FOReign EXchange) Rate record is used by the Purchase Order processing to automate the administration of importing goods from overseas suppliers where the creditors accounts and payments are to be processing in a foreign currency.
About This Screen
| Field | Enterable? | Instructions |
| Currency | Yes | Type in the new currency name (key). |
| Buy Rate | Yes | Type in what $1.00 Australian buys in the foreign currency. |
| Sell Rate | Yes | Type in the value of $1.00 Australian in the foreign currency. |
| Date | Yes | Type in the the date of the the buy and sell rates where updated. |
From Here
Once the Foreign exchange rates have been established, they may be referenced from the Purchase - Order, Purchase - Goods Received, Creditor - Account, and Creditor - Payments as required.