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Currency Exchange Rates

Currency Exchange Rates​

Purpose – Allows the user to track Rates of Exchange on a daily basis for a number of different currencies. A Trial Balance report in the General Ledger can be run in detail to view the rates of exchange for a specified type of currency.

The daily Rate of Exchange will hold the current rate until such time a new rate for a new date is entered. If the rate changes on a daily basis, then the Rate of Exchange would have to updated on a daily basis as well.

From the menu select, System Administration, Utilities, Currency Exchange Rates.

Rates of Exchange​

  • Date – Enter the date of the exchange rate and press the Enter key.
  • Currency Type – Select the Currency Type from drop down menu in the field.
  • Exchange Rate – Enter the amount of the exchange rate. This rate is the currency's exchange to your home currency. Maximum of 20 numeric characters.
  • Save – Press the Save button from the Command Panel to save the exchange rate.

Running a Trial Balance Report​

From the menu select, General Ledger, Trial Balance.

Trial Balance Parameters for Rate of Exchange

  • Starting Report Date - Enter the Starting Report Date. The starting report date must be one of the dates entered in the Currency Exchange Rate. If it is not, the report will be blank.
  • Ending Report Date - Enter the Ending Report Date.
  • Account Type - Enter an Account Type(s) or leave the prompt blank to include ALL account types. The valid account types are: 1 = Assets, 2 = Liabilities, 3 = Equity, 4 = Income, and 5 = Expenses.
  • Company Number - Enter a Company Number(s) or leave the prompt blank to include ALL companies.
  • Cost Center - Enter a Cost Center(s) or leave the prompt blank to include ALL cost centers.
  • Account Number - Enter an Account Number(s) or leave the prompt blank to include ALL account numbers.
  • Bypass Zero-Activity Accounts - Click the Bypass Zero-Activity Accounts box to include only accounts that have a beginning or ending balance or transaction activity for the dates entered.
  • Consolidate Companies - Click the Consolidate Companies box if ALL companies should be selected for Trial Balance production, they will be consolidated into a single Trial Balance. If this option is left blank, a separate Trail Balance will be printed for each of the selected companies.

If the consolidated option is checked, the company portion of the selected group of accounts is ignored and the selected group is merged by Cost Center and Detail line. As the Trial Balance is printed, asterisks are substituted for the company portion of the account number to indicate that the given report is a Consolidated Trial Balance.

  • Include Sub-totals by Source - Click the Include Sub-totals by Source box to sub-total the General Ledger report by source.
  • Report Type - Select the Report Type you want to print; Detail, Summary, Rolling, or Working. Important: In order to view the Currency Exchange, select the Detail type. Click the down arrow to see the list of choices. The default option is Summary. A description of each report is shown below.
    • Detail - General Ledger Report (Detail Activity)
    • Summary - Summary Trial Balance Report
    • Rolling- Rolling Trial Balance Report
    • Working - Working Trial Balance Report
  • Sort Option - Select a Sort Option for this report; G/L Number, Type, Cost Center, or Detail. Click the down arrow to see the choices. The default option is G/L Number. A description of each sort option is shown below.
    • G/L Number - By Ascending G/L Account Number
    • Type - By Account Type and G/L Account Number
    • Cost Center - By Company and Cost Center Number
    • Detail - By Company and Detail Line Number
  • Currency Type – Select a Currency Type to view in this report. Click on the down arrow to see a list of choices.
  • Click the Print button to print the report.