Period Exchange Rates

You can set up exchange rates from one currency to another currency for a specific period.

For example, your firm may use period exchange rates for re-evaluations and consolidated financial reporting.

You specify:

• The "from" currency and "to" currency
• The date to which the exchange rate applies
• The exchange rate, to 10 decimal places

Because these rates are retained indefinitely, the Period Exchange Rates feature provides filters that you can use to limit the number of rates that appear. You can filter either by currency or period. For example, you can limit the list to show only currency exchange rates between Canadian dollars and American dollars. DPS retains these individual user settings until you change them.

Exchange Hierarchy

Usually, a transaction is recorded at the exchange rate that was in effect on the date the transaction took place. DPS employs different methods for performing currency conversion:

1. An exchange rate or exchange date override, if one has been specified.
2. A direct exchange, based on the exchange rate table set up for your company.
3. An inverse exchange.
4. An exchange calculated using triangulation.