Foreign Exchange Rate Table

When to Use

This table display provides you with a list of all the exchange rates between various currencies, for a range of dates.

Steps

  1. Determine the date of the transaction.
  2. The originating currency of the transaction.
  3. The reporting currency for the transaction.

Detailed Procedures

Access the transaction using:

Menu

Accounting > Financial Accounting >> Accounts Payable >> Environment >> Current Settings >> Enter Exchange Rates

Note: When you select this report, you will get the pop-up box:

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Simply hit enter or click on Image. The purpose of this report is to view the exchange rate, not update it.

Display View "Currency Exchange Rates": Overview

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Pop-Up Window for Currency Selection Criteria:

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Field Name

Required(R) /Optional(O)

Description of Field Content

Exch.rate Type

R

Enter "M" in this field. "M" = "Standard translation at average rate", which is the rate used in all standard foreign exchange transaction postings at UofT.

From Currency

R

The currency that the transaction was originally processed in is entered here. If the code is unknown, click on Imageto access the matchcode search. A pop-up box will appear with all the available currencies.

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To find a particular currency, you can click in the header on the "Long Text" and the list will sort itself in alphabetical order. You can then scroll down to find the appropriate currency, by looking at the countries name. Once you have located the correct currency, you can select it by double-clicking on the item.

To Currency

R

Enter "CAD"; please note you can only convert to Canadian currency.

Valid From

R

Enter the effective date of the transaction posting (dd.mm.yyyy). The system will give you the currency rate that was in effect on that specific date. If you leave this field blank, the system will provide you with rate for the current date.

Once you have completed the required fields, hit enter or click on Image.

Display View "Currency Exchange Rates": Overview

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Item

Description

ExRT

This field shows the "Exchange Rate Type" that was entered as part of the selection criteria.

Valid From

Effective date of the rate displayed.

Indir. Quot.

This field is not in use, and always displays "0.00000"

Ratio (from)

This is a defaulted field and is always "1."

From

This column displays lists the currency code identified as the originating currency for the transaction. (See selection criteria)

Dir. Quot

The actual exchange rate is shown in this column i.e. the value of $1.00 (originating currency) in the new currency=> $1.00 USD = $1.3388 CAD

Ratio (to)

This is a defaulted field and is always "1."

To

This column displays the currency code identified as the "reporting" currency for the transaction. (See selection criteria)

To exit the report, click on Imageat any time. To print this report, click on Imageand follow the instructions.

End of Procedure.

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