How to setup Foreign Exchange Rates in RMS.

Overview

Foreign Exchange Rates are static conversion rates that can be used for currency conversion and multiple currencies in RMS.

The Foreign Exchange Rates entered can be used as an Alternate Currency for Currency Exchange or Currency Conversion on Quick Quote.

Foreign Exchange Rates must be entered as a static conversion rate to convert the foreign currency into the local currency.

Exchange rates remain at the static value entered and are not automatically adjusted.

The Audit Trail will record the following - 

• Date and time changed
• Field modified
• Old Value
• New Value
• Modified By

Guide

In the side menu of RMS, go to Setup > Accounting > Foreign Exchange Rates.

1. Select 'Add'.
   
    
2. Select a Property.
3. Enter the Currency Code.
   This must be a 3-letter code.
4. Enter the Currency Name.
5. Enter the Currency Symbol.
6. Enter the static Exchange Rate.
   The Foreign Exchange Rate entered is a static value used to convert the foreign currency into the local currency.
7. Select Save/Exit.
   

Currencies setup in Foreign Exchange Rates will be available as an Alternate Currency or to use Currency Exchange and Currency Converter in RMS.