Page History

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• The current screen doesnt allow you to specify when the exchange rate begins - the default is the current date
• Adding a new exchange rate for the same currency automatically expires the previous one
• A transaction that occurs on a specific day could use the specific rate but you may not know or input that rate until the following day
• If you hold an bank account in a currency that is not your main currency then that account needs to be re-valued at the end of each month using the Inland Revenue Department (IRD) specified conversion rate
• All transactions (eg Income) to the General Ledger in a foreign currency also need to use the IRD rate. The rate is not known until after the end of the month required for re-valuation - so may need some form of currency re-valuation process.??? 

• Would we ever have the case where you would want to put in an end date for a currency conversion but no new one? (eg like changeover to Euro when all other european currencies were no longer supported?)

What's on the screen?

TO DO : Add a screen shot

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NOTE: Existing foreign exchange rates do not get updated - instead the existing rate is expired and a new one created. However you can currently create 3 different foreign exchange conversions by using the 'Purpose' field to distinguish them.Example: To 

Use the same steps as adding a new foreign exchange rate.

How do I delete / expire a foreign exchange rate?

NOTE: Existing foreign exchange rates cannot be deleted via the current exchange rates screen. Currently rates can be expired by adding a new exchange rate for the same currency conversion and purpose.

Use the same steps as adding a new foreign exchange rate.