Page Comparison

1.

Navigate to

Maintenance > Currency >Exchange Rates.

2.

Click Add.

The Add Exchange Rate screen opens.

3.

Select the required currency code that you wish to convert from in the From Currency Code field. For example 'GBP'.

If you do not see the required currency code, this means the currency code has not be made active in the Currency Codes screen. Please refer to How to Activate a Currency Code.

4.

Select the required currency code that you wish to convert the From Currency Code into the To Currency Code. For example 'EUR'.

5.

Enter the exchange rate value in the Forward Rate. This will allow up to 6 decimal digits. For example, you want to enter the exchange rate of converting GBP into EUR. An exchange rate website has the following information:

Image Added

The forward rate would be 1.14310.

6.

Apply the reverse rate of when you want to convert Euros into Great British Pounds. Using the example in the previous step, the reverse rate would be 0.874815.
FastTrack360 automatically calculates the reverse rate but can be changed if required.
If no changes are required to the calculated reverse rate, skip this step.

7.

This is the effective date of the exchange rate.

Validation will check the following conditions and error if the condition is not valid:

• Combination of currency codes already exists for the same effective date. Where this occurs, a different date would need to be entered.

• The effective date entered is before an existing effective date for the combination of currency codes. Where this occurs, the effective entered must be greater than an existing date.

• The effective date is greater than today and a previous effective date for the combination of currency codes does not exist. Where this occurs, enter today's date.

8.

The Last Used Date is read only and will display the date of when this combination of currency codes and exchange rates was last used. When a date is displayed in this field, you will not be able to edit or delete the row of data.

9.

Click Save.

A confirmation message will display indicating the exchange rate has been saved and the Exchange Rate Entry screen closes.