A/R Rate Override Screen (Receipts)

  1. Open Accounts Receivable > A/R Transactions > Receipt Entry.
  2. Click Rates.

    Note: This button appears only in multicurrency Accounts Receivable ledgers and only if the customer does not use the functional currency.

This is the amount in the customer's currency. The rates in this screen show the exchange rate used to convert the customer currency to the currency of the current receipt batch or, if the batch is in the customer currency, the exchange used to convert the customer currency to the functional currency.

This is the exchange rate currently in effect for the specified currency and the displayed rate type and rate date.

You can change the rate if necessary. (Accounts Receivable selects the rate to display from the Currency screens in Common Services.)

Accounts Receivable uses the exchange rate specified for this date in Common Services to convert amounts from the customer currency to your functional currency.

Accounts Receivable displays the document date as the default rate date, but you can enter a different date. If you enter a new date, Accounts Receivable displays the exchange rate associated with that date.

The rate type is a code for the kind of rate to use when converting multicurrency amounts to functional currency. Examples of rate types might be "spot rate," "average rate," and "contract rate."

You must type a valid rate type or select one from the Finder.

You define rate types using the Currency Rate Types screen in Common Services.

This field shows the amount in the receipt currency.

The receipt amount is converted to the customer currency using the exchange rate information contained on the Rate Override screen. The Applied Amount field (in the receipt application table) shows the amount applied to the customer's account in the customer's currency.

Overview

This screen lets you:

  • Change the exchange rate for the current receipt—for example, to one that was agreed on for the invoice.
  • Change the exchange rate. The program will automatically adjust the Receipt Amount field.

If the batch is in the functional currency:

  • The Check/Receipt Amount you enter in the A/R Receipt Entry screen is in the functional currency.
  • The Receipt Amount is in the customer currency.
  • If you use the Rate Override screen to change the exchange rate, you will change the amount in the Receipt Amount field (which shows the amount in the customer currency).