When orders are received, the invoices will indicate costs in the vendor’s base currency. Once the orders are reconciled, though, the value of the inventory is expressed in the location’s base currency. The "Exchange Rate Capture" preference determines which rate will be used to convert the vendor base currency to location base currency, should the rate change between the date the order is created and the date the order is reconciled. Throughout the steps of the ordering process, prices are shown in the vendor base currency, with totals also shown converted to the location base currency.
- Submit to Vendor - Example: the prices and extended costs are displayed in the vendor’s base currency, Canadian Dollar. The total extended cost is also displayed converted to the location’s base currency, US Dollars.
- Confirm Terms - At the Confirm Terms stage of the order process, prices are still expressed in vendor base currency, with totals also shown converted to location base currency.
- At Reconcile, if the vendor base currency and location base currency are different, two extended value columns are displayed to show the amounts in each currency. The exchange rate used for the currency conversion is displayed in the header of the reconcile screen.