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<ManualTopic ID="/baanerp/tc/onlinemanual/000314" xml:lang="en">
   <Header>
      <Title>To define currency rates</Title>
      <Keyword type="header" order="d1e1450997">
         <Level1>Currency rates</Level1>
      </Keyword>
   </Header>
   <GeneralSection>
      <Paragraph>ERP Enterprise uses the <Link href="/baanerp/tc/glossary/glossary#CurrenRates_tc" role="glossary">currency exchange rates</Link> to
		convert transaction amounts into amounts in the company's home currencies. Use
		the <Link href="/baanerp/tc/mcs/tcmcs0108m000" role="session">Currency Rates (tcmcs0108m000)</Link> session to
		define currency rates.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Currency systems and currency rates</SectionTitle>
      <Paragraph>You can only define
		currency rates between the transaction currencies and the company's home
		currencies. You cannot define currency rates between two currencies that are
		not home currencies. The home currencies are the currency base in the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000" role="session">Currency Rates (tcmcs0108m000)</GUIRef> session. The currency rates that you must define
		depend on the currency system used. See <Link href="/baanerp/tc/onlinemanual/000334" role="manual">Currency systems and currency rates</Link> for
		details.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Express in base currency</SectionTitle>
      <List>
         <ListIntro>For each currency rate you can indicate whether:</ListIntro>
         <ListItem>The rate must be
		  expressed in the base currency (one unit of the base currency is so many units
		  of the external currency).</ListItem>
         <ListItem>The rate must NOT be
		  expressed in the base currency (one unit of the external currency is so many
		  units of the base currency).</ListItem>
      </List>
   </GeneralSection>
   <Note>
      <SectionTitle>Note</SectionTitle>
      <Paragraph>If the base currency is
		the Euro, you must set <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000#express.in.base" role="manual">Express in Base Currency</GUIRef> to <GUIRef href="/baanerp/tc/domains/yesno.yc#yes" role="option">Yes</GUIRef>. For
		details, see <Link href="/baanerp/tc/onlinemanual/000091" role="manual">Euro compliance</Link>.</Paragraph>
   </Note>
   <GeneralSection>
      <SectionTitle>The rate factor</SectionTitle>
      <Paragraph>You can use the rate
		factor to avoid extremely high or low values of a currency exchange-rate.
		Depending on the setting of the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000#express.in.base" role="manual">Express in Base Currency</GUIRef> field in the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000" role="session">Currency Rates (tcmcs0108m000)</GUIRef> session, ERP Enterprise divides or multiplies the amount by the rate factor before the
		currency exchange-rate is applied. See also <Link href="/baanerp/tc/onlinemanual/000335" role="manual">Example of rate factor</Link>.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Exchange rate types</SectionTitle>
      <Paragraph>You can define different
		currency rates for the different <Link href="/baanerp/tp/glossary/glossary#000046" role="glossary">exchange-rate types</Link>. For
		example, you can specify different currency exchange-rates to be applied to
		purchase transactions, to sales transactions, and to internal transactions. See <Link href="/baanerp/tc/onlinemanual/000056" role="manual">To use currency exchange rate types</Link> for
		details.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>The effective date</SectionTitle>
      <List>
         <ListIntro>ERP Enterprise uses the currency rates that is valid at the specified time and date to convert
		  an amount. For example, you can usually specify that ERP Enterprise must use the
		  currency rate that is valid:</ListIntro>
         <ListItem>When you commit the
		  transaction (the order date).</ListItem>
         <ListItem>When the transaction is
		  invoiced (the invoice date).</ListItem>
         <ListItem>On a manually entered
		  date.</ListItem>
      </List>
      <Paragraph>A currency rate can only take effect if the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000#tcmcs008.rapr" role="manual">Rate  Approved</GUIRef> check box in the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000" role="session">Currency Rates (tcmcs0108m000)</GUIRef> session is selected. The currency rate takes effect
		either at the date and time of the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000#tcmcs008.stdt" role="manual">Effective Date</GUIRef> field or the <GUIRef href="/baanerp/tc/mcs/tcmcs0108m000#tcmcs008.apdt" role="manual">Approval Date</GUIRef> field, whichever is the later.</Paragraph>
      <Paragraph>ERP Enterprise uses the internal currency exchange rates
		to calculate and store the cost price in the reference currency and to convert
		the item cost price from the reference currency into the other home currencies.
		Therefore, in a dependent multicurrency system, you cannot change a currency
		rate of the internal exchange rate type that is already used to calculate item
		cost prices.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>The rate determiner</SectionTitle>
      <Paragraph>For most transactions
		you can select a <Link href="/baanerp/ci/glossary/glossary#000007" role="glossary">rate determiner</Link>. The various
		rate determiners that are available are described in <Link href="/baanerp/tc/onlinemanual/000353" role="manual">Rate determiners</Link>.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Rotate Currency</SectionTitle>
      <Paragraph>In the sessions that
		display amounts which are registered in more than one currency, you can choose
		Rotate Currency from the Tools menu to see the amounts in the different home
		currencies.</Paragraph>
   </GeneralSection>
   <RelatedTopics>
      <SectionTitle>Related topics</SectionTitle>
      <RelTopic>
         <Link href="/baanerp/tc/onlinemanual/000030" role="manual">Currencies - overview</Link>
      </RelTopic>
      <RelTopic>
         <Link href="/baanerp/tc/onlinemanual/000056" role="manual">To use currency exchange rate types</Link>
      </RelTopic>
      <RelTopic>
         <Link href="/baanerp/tc/onlinemanual/000335" role="manual">Example of rate factor</Link>
      </RelTopic>
      <RelTopic>
         <Link href="/baanerp/tc/onlinemanual/000353" role="manual">Rate determiners</Link>
      </RelTopic>
   </RelatedTopics>
</ManualTopic>