exchange rate

[guyinstyle]

Hi Guys,

Can someone help me to round the exchange rate.

My exchange rate is 1.984329839
Would it be possible I can round this rate to 1.98? If yes please suggest how.

Thanks heaps,.

 

[Jay Converse]

Why? That's not how exchange rates are supposed to work.

 

[guyinstyle]

Absolutely.

But my company found some difference with the dollar values. So they decided to go with the first two digits after the decimal value.

Please suggest.

 

[ettienne]

Revaluation - press F1 and search.

 

[Jay Converse]

Your company needs another accountant.

 

[guyinstyle]

Thanks Ettienne,

But this is not I am looking for.
I am looking something round or spread option. I found a Spread option in exchange rate but have no idea about it's formatting.

Can someone help how I format the spread column to change the value from 1.984423232 to 1.98 ?

Thanks.

 

[Jay Converse]

You're not getting it. The exchange rate wasn't 1.980000000, it was 1.984423232. That's how multi-currency works.

 

[ettienne]

You don't know what your are looking for....
Either enter the exchange rate as you need it (i.e. 1.98) or revalue it.... those are your 2 options.
There is no magical rounding function.

 

[guyinstyle]

Thanks Tuba2007 for the clarificaiton.

The problem I diagnose is, In GL when you run the source currency and functional currency report it shows exactly the same exchange rate I put in the system but when we calculate the difference then it shows that system automatically picked the different/assumpted exchange rate.
Now I have no idea from where it takes that assumpted exchange rate.

In system we put 1.890000000 and when we run the GL report and match it, It shows the exchange rate is 1.89345273

Any thoughts would be highly appreciated.

 

[ettienne]

Thoughts on what?
It is what it is, the rates reflect what was there at the time the transaction was entered - unless it was revalued.
WTF is an assumpted exchange rate anyway?

 

[guyinstyle]

Thanks ettienne,

At the time of transcation the rate was 1.8900000 and no body revalued it but when we run the GL we found that system calculate with 1.89435224.......

 

[Jay Converse]

There is no such thing as an "assumpted" exchange rate. You need to check your math, or talk to your accountant. Accpac's multi-currency design has been its strength for decades, it meets GAAP requirements in 1st, 2nd, and most 3rd world countries.

 

[ettienne]

Just clarify something... did you enter a source amount and an exchange rate, or did you enter a source amount and the functional amount?

 

[guyinstyle]

Our account's department entered the exchange rate on the monthly basis.

And they enter the source amount and functional amount in the system.

 

[ettienne]

So if they enter the source amount and the functional amount then the exchange rate is simply a calculation of source vs functional.
Where's the problem at?

 

[Jay Converse]

You're supposed to enter the source, and leave the functional alone. If they override what's calculated from the monthly rate, then of course it's not right!

 

[guyinstyle]

Thanks Guys,

I just had a chat with my friend and he advise me to check the Exchange gain or loss details so it will resolve your problem.
He is on client site so unable to talk with me in detail.

Can you guys please navigate me from where I find this exchange gain or loss detail and how I checked whether its auto or manual.

Thanks heaps.

 

[Jay Converse]

Creating a revaluation batch is a manual process. RTFM.

 

[guyinstyle]

Thank you.