Module Training: Foreign Exchange
On this page find notes for:
FX Foreign Currency V4.0 (FX01)
In this lesson you will learn about using the Accredo system.
After completing this lesson you will be able to:
Process a foreign currency transaction
Understand the general ledger transactions involved
Set Up Foreign Currency
A summary of the steps to take if you want to set up foreign currency for your company.
Refer to Help or the 3.0 Release Notes for more details regarding any of these steps.
Turn on Foreign Exchange (FX) Navigator > Setup > Foreign Exchange > Settings > General tab Specify your settings including GL Integration. Add Currencies Navigator > Setup > Foreign Exchange > Currencies
You must add a currency to make it available. Add all the currencies you will be using for this Company.
Limit Foreign Exchange Errors
If you are entering exchange rates, it can be very easy to forget about the decimal place and just key in the numbers, which can leave your data in a mess.
You can set FX Exchange Rate Limits for each currency you use to prevent this from happening. We would recommend everyone using Foreign Exchange set Exchange Rate Limits to prevent data entry errors.
To set your Exchange Rate Limits
Maintain > Foreign Exchange > Exchange Rate Limits If you are using the Exchange Rates Table, you can select the Low/High Dates From and To, to display the rates from the Table in the Low High Columns. This may assist you in setting your Minimum and Maximum Rate Limits.
Key in the Minimum and Maximum Rates allowed for each currency then close the window.