Handling of Automatic Update of Currency Rates via Assistant

Explanation

Use this activity to automatically update currency rates in one or several companies by reading a text file that contains the rates.

This assistant will guide you through the different steps. Note the following:

A currency file must contain the following:

An External File template must be defined that specifies how the file should be interpreted. Two different External File definitions are pre-defined:

In the External File Template page in IFS/Accounting Rules, it is possible to define other file templates.

 

Example 1 - File Base Currency EUR:

The file my_currency_eur.txt has EUR as its File Base Currency and the rate for this currency must always be set to one (1). It is mandatory to have a line containing the File Base Currency in the file. In this case, the rates in the file are not inverted, even if the currency EUR is set as Inverted Quotation in the Currency Rates page. The file does not handle the Conversion Factor, which means that the rates in the file should be treated as if the Conversion Factor is always one (1). The system will calculate the correct currency rate based on how the Currency Code (and the Conversion Factor) is defined in the application. In the example, "1 SEK is equal to 0.15 EUR", is how you should read the information from the example below.

The file my_curr_eur.txt:

EUR; 1 ;1999-01-02;
USD ;1.1 ;2000-09-01;
SEK ;0.15 ;2000-09-30;

 

Example 2 - File Base Currency USD:

In this example, the file my_currency_usd.txt has USD as its file base currency.

USD; 1; 2000-10-01;
SEK; 0.13; 2000-10-01;
EUR ;0.9; 2000-10-01;

 

Prerequisites

In order to perform this activity, at least one company for which currency codes are already defined must exist.

System Effects

The currency rates will be updated for the currency type that is defined for each company. Once the update has been executed, the new rates are used by all functions in the system where currency rates are handled.