Adding a new currency conversion entry

An application administrator adds a new currency conversion entry. This is needed only when your lease currency and functional currency are different and you want all journal entries to be in functional currency. Your functional currency and reporting currency are different.

1. Go to Tools > Administration > Currency Conversions.
2. Click Add.
3. Select the values for Conversion Group, Frequency Group, From Currency Code, and To Currency Code from the list.
   Note: If the Conversion rate belongs to a specific day, then pick "Daily". Month Average Rate and Month End Rate are expected to have one entry per month. If there is no Month End Rate for a specific month, then the system uses the latest daily rate available for that month. Combination of Conversion Group, Frequency Group, From and To Currency and Date range should be unique.
4. Click Create.