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Overview:

The Currency Information Exchange Rates window allows you to create and maintain an unlimited number of currencies used by your company. Setting up currency Information is only required if your company operates in multiple currencies. Your companies base currency is assigned in the Organizational Units window, on the Legal Entity tab

Benefits:

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maintain daily exchange rates, commonly referred to as the “spot rate,” between your base currency and the different source currencies you transact business in. PENTA uses these exchange rates to convert transactions recorded in a source currency to your base currency and to translate account balances to your base currency for financial reporting.

Benefits:

• Exchange rates are used to convert transactions recorded in a source currency to your legal entities base currency
• Currency Translation process uses Exchange Rates to translate your account balances to your base currency for financial reporting

Roles:

• Accounting Manager
• CFO

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• Financial & Accounting > Setup > Currency Information > Currency InformationExchange Rates

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