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When you enter transactions or documents for foreign Creditors, the Exchange Rate field will be available.
If you selected Use Exchange Rate Table in Foreign Exchange Settings, Accredo will retrieve the exchange rate based on the Transaction or Document Date, Rate Type and Currency code. You can override the Exchange Rate retrieved. You can also save the rate back to your exchange rate table by clicking the Save Exchange Rate button (depending on your User Permissions).
If you are not using the Exchange Rate Table, you must key in the Exchange Rate. The rate you enter will be remembered while the form is open and will be used for subsequent transactions or documents in the same currency.
Forward Cover
If you have arranged Forward Cover, you can enter the given Exchange Rate and click the 
Fix Exchange Rate (Ctrl+F) button.
Fixing a rate means it will not be updated and will be excluded from Revaluations. When an Invoice with a Fixed Rate is paid, Accredo will warn if the Payment Exchange Rate does not match when manually allocating a payment or receipt.
Non-Fixed Exchange Rates
If you do not fix the Exchange Rate and you are using the Rates Table, the Exchange Rate will be updated from the Rates Table each time any of the Rate Type, Currency Code or Transaction or Document Date are changed. It will also be updated when the document is posted or a revaluation is performed.
Exchange Rates on Purchase Orders and Shipments can be optionally revalued. See PO Revalue Foreign Orders and AP Revalue Foreign Shipments.
Unallocated Transactions which are not fixed must be revalued at End of Period, and an Unrealised Variation will then be created. See AP Revalue Foreign Balances.
Paying Foreign Creditors from a Bank Account in their currency
If you deal with overseas Creditors regularly, you can set up a bank account in their currency to pay from. When you enter the Payment, enter the Exchange Rate. The Bank Account will default from the Creditor's Creditor Group.
Paying Foreign Creditors from Base or other currency Bank Account
If you are paying your Creditor from a bank account in a different currency and you know the amount taken from your Bank Account then:
If you don't know the amount that will be taken from your Bank Account:
Prepayment Deposits at Fixed Rate
Often Foreign Creditors will require a pre-payment before they ship the goods, so the Payment will be entered before the Invoice. If you have Forward Cover and have to enter a pre-payment deposit Payment, followed by a Payment for the Balance of the Invoice when the goods arrive, you may have two payments with different Exchange Rates. When it comes time to enter the Invoice, to minimise the Exchange Variation you can calculate the Exchange Rate to use. The calculation is the Sum of the Base Amount of the Payments Divided by the FX Amount on the Invoice.
Foreign Exchange Variations
Realised Variations
When the Exchange Rate on a Payment differs from the Exchange Rate on the Invoice(s) which the Payment is allocated against, a Realised Variation is calculated in the Allocation Period and any Unrealised Variation is reversed.
The Realised Variation shows against the Invoice. You can customise to show the Variation Realised Bs in the AP Creditor Transaction tab.
Invoices and Credits take the Gain or Loss over Payments and Journals, where both transactions for an allocation are from the same grouping (for example, Invoices and Credits being the first group, and Payments and Journals the second). The earlier transaction takes the Gain / Loss.
Realised Gain/Loss for a transaction is calculated during allocation as DebitAllocationAmountBs less CreditAllocationAmountBs.
Unrealised Variations
Unrealised Variations are calculated when Unallocated Foreign Exchange Transactions that are not fixed are revalued.
Run (F9).Revalue Foreign Balances is required as part of the End of Period Update process, but you can Revalue more often.
You can customise to show the Variation Unrealised Bs in the AP Creditor Transaction tab.
The Unrealised Gain / Loss on exchange for FX transactions that are not Fixed is calculated as the UnallocatedAmount (FX) / Revaluation Exchange Rate, less the UnallocatedAmountBs, calculated at the transaction exchange rate.
As the unallocated amount is reduced by allocation, the Unrealised Gain / Loss is reduced accordingly. When a transaction is fully allocated total Unrealised Gain / Loss for the transaction is zero.
Revalue Foreign Orders
Go to Navigator > Tasks > Purchase Orders > Revalue Foreign Orders.
You can optionally Revalue Foreign Unprocessed Purchase Orders that are not fixed.
The Revaluation date is then written to the Valuation Date on the Orders.
Revalue Foreign Shipments
Go to Navigator > Tasks > Accounts Payable> Revalue Foreign Shipments.
You can optionally Revalue Unposted Shipments if you are using the Rates Table.
AP Transfer to GL
Go to Navigator > Tasks > Accounts Payable > Transfer to General Ledger.
Select the Period to transfer up to, then click OK.
When you transfer to the General Ledger, Accredo will create a separate Accounts Payable Exchange Variation batch. This is shown in the GL Batches Transferred results screen. you can double-click this batch or click 
Open (F12) to see the transactions in the batch.
If you are integrating to GL from AP on a Detailed Basis (selected in AP Settings - Integration tab), you can select a line in the Batch then click 
Drill Down (Shift+F12) to open the originating Transaction.
You can reconcile the Realised and Unrealised Gain Loss on Exchange with AP sourced Transactions in the GL.
Go to Navigator > Reports > Accounts Payable > Transaction Reports > Exchange Variation Sequence.
This report lists the exchange variations in the period order they were generated in, so it will include Transactions from prior periods that were Revalued in the selected period.
You can customise the report to show only Unrealised or Realised transactions.
Filter/Sort (Ctrl+F2). Save (F9). One Time (F9).
Run (F9).Viewing Base Currency Balances
When you are viewing Balances for a Foreign Currency Creditor, such as on the Creditor Balances tab, you will see a tab for the Base Currency (such as NZD) and a tab for the Foreign Currency (such as AUD). Toggle between the tabs to view Balances in the Base Currency and the Foreign Currency.
Viewing Variations
When you are viewing Transactions for a Foreign Currency Creditor, such as on the Creditor Transaction tab, you can customise to show the Variation Unrealised Bs, Variation Realised Bs and the Variation Bs (Total Variation). Where there is a variation, you can click 
Show variations to show all variations for the transaction.
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