Purpose
To obtain the current exchange rates from the web for all other currencies used in the specific SolutionERP install for the chosen company vis-a-vis the default currency of the company and then tweak the value before storing it along with an settable date (default today) from which it should be operational.
Procedure
- Currencies acceptable to the company are set in Banking and General Ledger -> Currencies
- Default Currency of Company is set in Setup -> CompanySetup
- Get Current Exchange Rates from the Web and set the optionally tweaked rate and Effective Date at Banking and General Ledger -> Exchange Rates
- The Exchange Rate Request page still lists the default currency for choice but does not display the default currency in the rate obtained page.
- If any currency rate is huge against the domestic currency and the rounding errors are getting big, then increase the currency rate decimals in Preferences (Setup -> Display Setup) say from 4 to 6 or 8.
- Exchange rate is got from selected web source when first transaction on the day made in a given currency is entered. So, if you do not make transactions on every day, you will not have complete exchange rate tables.