Currencies and rates

Currencies define each currency’s code, display and decimal precision. Rounding follows the configured transaction and functional-currency rules. Differences go to the designated accounts; tax conversion differences follow the reviewed tax configuration.

A rate states how many units of the to-currency equal one unit of the from-currency. Direct and derived cross rates retain their source and calculation. A document-currency amount, receipt-currency amount and functional value are separate quantities. A cross-currency settlement stores the conversion between document and cash currencies as well as its functional carrying amounts.

The accounting policy determines where each type applies. Configuring these records does not itself establish that a group’s reporting treatment or jurisdiction-specific tax rule is correct.

Treasury Analyst configures the approved feed or import with Admin and reviews Today’s Rates. Rate exceptions identify missing pairs, dates or rate types and the affected source. Draft work can be prepared while the exception is reviewed, but an absent rate must not become an unrecorded fallback at posting.

Any permitted substitute needs its source, reason and required approval recorded. Resolution refreshes the affected calculation and decision evidence. Loading a new daily rate does not silently rewrite a posted invoice, an approved settlement or a closed run. Failed imports and stale rates remain operational exceptions to resolve.

Rate overrides retain the proposed and replacement rates, source document, reason, requester and approval. Treasury Analyst proposes permitted document-rate changes; Controller authorises closing-rate overrides and other changes requiring approval. Clerks can inspect the rate applied without gaining permission to change it.

A rate override is part of the calculation’s revision. If it changes the amount being approved, the old decision cannot authorise the new amount. Posted revaluation and locked consolidation retain their used-rate versions. Corrections follow a linked reversal or replacement run, preserving the earlier evidence.

An authority may require a different conversion basis from the accounting document. Tax lines retain the accounting-rate functional value used in the GL and the separate authority reporting value and conversion difference. A prescribed reporting rate does not silently change the document journal. The filing states its reporting currency and conversion. Tax Specialist reviews the configured rule and source; filing after period close does not reopen that period for posting.

Approval decisions converts the source amount into the authorised person’s limit currency and freezes the amount, rate, limit and source revision used. Comparing a functional-currency total directly with a limit in another currency is refused unless a documented conversion makes them comparable.

Approval delegations record the authorised person, delegate, scope and effective dates. The actual actor remains visible. A valid limit or delegation never permits the preparer to approve their own bill, payment run or another action that requires separation.

• Today’s Rates shows loaded pairs, rate types, sources and locked status.
• Open Foreign-Currency Invoices identifies outstanding exposure with booked-rate context.
• Pay Run Queue supports planning cash by payment currency and account.