DataServ currently offers a currency conversion feature as part of the Global Approval optional module. This module automatically converts the total invoice amount to a single consistent currency amount – the Global Approval Currency (e.g. USD). The Approval Matrix is maintained in the Global Approval Currency.
Within the application you can see the total invoice amount in the invoice currency and the global approval currency. You can also view the conversion rate and conversion date on each document.
Analytics does not currently have any exchange rate information and always uses the invoice amounts.
Daily Exchange Rate Option
DataServ retrieves exchange rates daily using an API from OANDA. Daily exchange rates are used in the conversion. This option is set up as part of implementation and requires access within the application.
Client Maintained Exchange Rate
As a tailoring option we offer to the ability for clients to set and maintain their own exchange rates within DataServ and to be used throughout the application.
Exchange Rate Matrix
Exchange rates are set and maintained through the the Exchange Rate Matrix.
For more detailed information Exchange Rate Matrix
What the Exchange Rate Information Looks like on the Document Viewer and how it is calculated
For invoices that the currency type is not blank
It will use the invoice amount and invoice date
Based on this currency and the invoice date it will reference the Exchange Rate Matrix and find the current entry that matches.
The following index fields will show the Conversion Info
Conversion Amount=The invoice amount multiplied but the exchange rate
Conversion Date - the date the conversion was calculated
Conversion Rate - the rate used in the calculation
You may need to click on 'More Fields' to view this info
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