Period Rate
📝 Introduction
Period Rate function allows users to configure exchange rates used for revaluating financial statements at the end of a specific period. This ensures that financial data reflects current market conditions and provides accurate valuations.
This function leverages an API to automatically update exchange rates from internet/
🛠️ Usage
🏷️ Data Fields
General
- 🔑 TxnId
- Automatic id of exchange rate transaction
- 📝 UpdatingSource
- Indicate the source where this rate record is updated from
- 📝 Period
- The financial period for which the exchange rate is being set, e.g., 2024-011.
Rate Info
- 📝❗Currency 🔗 Currency
- The currency for the exchange rate, e.g., USD (United States Dollar).
- 📝 ConvertTo
- The target currency for the conversion, e.g., VND (Vietnamese Dong). This currency is taken from the Accounting Settings function
Accounting Settings - 📝 ExchangeOperator
- The operation used for the exchange rate, typically Multiply.
- 📝 Rate
- The exchange rate value, e.g., 24090.000000.
Reference
- 📝 BuyingRate
- Reference Buying Rate of this currency
- 📝 SellingRate
-
Reference Selling Rate of this currency