The following describes how to change the relationship between transaction currency and base currency by reversing the exchange rates. The Reversed rate flag in the System company control file will be changed from NO to YES. The effect will be that the exchange rate relationship will be changed as follows:
from:
| 1 transaction currency unit = x system currency units |
to:
| 1 system currency unit = x transaction currency units |
The routine to reverse exchange rates consists of the following steps:
- All exchange rate values for historic transactions are converted.
- All exchanges rates in the Exchange rate table are converted.
- The Reversed rate field is automatically updated in Work with companies.
Calculation example:
| Exchange rate before the conversion | 1 SEK = 0.074074 GBP |
| Exchange rate after the conversion | 1 GBP = 13.5 SEK |
| i.e. | 1 = 13.5 0.074074 |
- Make a complete backup of the company database library. To find the company file library, select the Work with companies menu item to choose the appropriate company code and application code. (This is to be used for audit purposes.) This is a good safety precaution, so that the database can be re-installed, if needed.
- Select the Change base currency and/or reverse exchange rates menu item.
- You access the Currency conversion panel. The following information is applicable:
- Actual currency flag
- Displays the current value of the Reversed rate field defined in Work with companies.
- New currency flag
- Set to YES.
- Review and, if applicable, manually add or update the exchange rates in the Exchange rate table.
Click OK when you have made the selections. When the conversion run has been completed the system will inform you by sending the following message: “Job TRIANGLE completed normally“.