Entering Market Rates Concept Entering Market Rates Entering

Entering Market Rates Concept

Entering Market Rates

Entering Market Rates Step 1 Begin by navigating to the Market Rates page. Click the Scroll Down arrow.

Entering Market Rates Step 2 Click the Set Up Financials/Supply Chain menu.

Entering Market Rates Step 3 Click the Common Definitions menu.

Entering Market Rates Step 4 Click the Scroll Down arrow.

Entering Market Rates Step 5 Click the Market Rates menu.

Entering Market Rates Step 6 Click the Market Rates menu.

Entering Market Rates Step 7 Click in the Market Rate Index field.

Entering Market Rates Step 8 Enter the desired information into the Market Rate Index field. Enter "MODEL".

Entering Market Rates Step 9 Click in the From Currency Code field.

Entering Market Rates Step 10 Enter the desired information into the From Currency Code field. Enter "CAD".

Entering Market Rates Step 11 Click in the To Currency Code field.

Entering Market Rates Step 12 Enter the desired information into the To Currency Code field. Enter "USD".

Entering Market Rates Step 13 Use the Rate Type field to specify the recognized types of exchange rates, such as spot, current, negotiated, average, and historical. Click in the Rate Type field.

Entering Market Rates Step 14 Enter the desired information into the Rate Type field. Enter "CRRNT".

Entering Market Rates Step 15 Click the Search button.

Entering Market Rates Step 16 Use the Market Rates page to enter and maintain market rates.

Entering Market Rates Step 17 Click the Rate Definition menu.

Entering Market Rates Step 18 Use the Rate Definition page to view and change rate definition rates.

Entering Market Rates Step 19 The Maximum Variance field specifies the percentage of variance allowed when you maintain the market rate. If the change exceeds the tolerance, it generates an error. The default value is 2. 50.

Entering Market Rates Step 20 The Error Type field specifies the type of error that results when the tolerance that is defined in the Maximum Variance field is exceeded.

Entering Market Rates Step 21 Click the OK button.

Entering Market Rates Step 22 To update the exchange rate, insert a new row with a new effective date. Click the Add Row button.

Entering Market Rates Step 23 Use the Effective Date field to specify a date on which the new exchange rate is applicable. People. Soft General Ledger automatically populates the effective date with the current system date. For this example, accept the default value.

Entering Market Rates Step 24 Use the Rate field to specify the rate as of the effective date. This field displays the visual rate. In the case of triangulated exchange rates, it displays the primary visual rate. The visual rate is the cross rate, but it also can be one of the other component rates of the triangle. Click in the Rate field.

Entering Market Rates Step 25 Enter the desired information into the Rate field. Enter "1. 18870".

Entering Market Rates Step 26 Click the Exchange Rate Detail button.

Entering Market Rates Step 27 Use the Exchange Rate Detail page to view details about the exchange rate, including current and historic quotes.

Entering Market Rates Step 28 The Current Quote field displays the current exchange rate used to convert the value of one currency to the other.

Entering Market Rates Step 29 The Historic Quote field displays a quote indicating the quotation method used by a historic exchange rate if the original quotation method of the historic rate differs from the current quotation method.

Entering Market Rates Step 30 Click the OK button.

Entering Market Rates Step 31 Click the Save button.

Entering Market Rates Step 32 You have successfully entered a new market rate. End of Procedure.