Description
Determines the exchange rate posting: Direct or Indirect. That is, the method for calculating the amount of a transaction in local and foreign currencies.
Once a journal entry is posted, this setting cannot be modified.
Field name: DirectRate.
Property type
Read-write property
Syntax
Visual Basic |
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Public Property DirectIndirectRate() As BoYesNoEnum |
Remarks
Field name in the application: Exchange Rate Posting - Direct/Indirect.
To display the form in the application:
- Select Administration --> System Initialization --> General Settings --> Display tab.
tYES - Direct rate. The system multiplies the amount in the foreign currency with the exchange rate.
tNO - Indirect rate. The system divides the amount in the foreign currency with the exchange rate.
For example, if the local currency is Euro and 1 Euro = $1.33 US, for direct posting the user should set an exchange rate of 1.33; for Indirect posting the user should set 0.75 (1/1.33).