PURPOSE
This document shows the detailed steps for maintaining entity specific accounting exchange rates in CS Lucas system.
WHY IS THIS IMPORTANT?
Some entity in the group follows their own specific accounting exchange rates for accounting which is different from the accounting exchange rates maintained in the Exchange Rates screen that are used by group.
PROCEDURE
1. From the main menu, click Prices > Exchange Rate.
2. Click Rate Type. The Accounting Rate Type Maintenance screen displays.
3. To create new accounting rate type, click Add (+) Button.
4. Enter a short name for the new accounting rate type and select the quote in currency for accounting exchange rates maintained under the Quote in field.
5. Click Save when completed. The following message will be shown when save successfully.
6. Click Cancel button to return to Exchange Rate Maintenance screen.
7. The newly created accounting rate type will appear in the Ex Rate Type drop down field.
8. To maintain accounting exchange rates for foreign currencies against the newly created accounting rate type, click on Add button .
9. In the New Exchange Rate Maintenance screen, choose the newly created accounting rate type from the Ex Rate Type field. In this example, BI Rate.
10. Choose the currency to maintain. Then, fill in the Vdate and accounting exchange rate.
11. Click Save.
12. After saving, you will see the newly created accounting exchange rate by filtering the Ex Rate Type to appropriate rate type and dates.
Note: The accounting exchange rates maintained under this rate type are quoted in IDR, which is the quote in currency for this rate type.
13. Repeat step 8 to 11 to maintain accounting exchange rates for other currencies.
14. Alternatively, if you have many currencies to maintain, you can prepare the accounting exchange rates (see below example) in the import template and import into the system. VDate, Ccy, Accounting and Ex Rate Type are required. For more details on the steps to import, see Importing Exchange Rates.
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