This exchange rate is essential for companies that import / export. Indeed, thanks to it we can know the timing of this action import / export. Take for example a company that wants to sell laptops in England as it is in America, in the United States. Playing on the exchange rate of the dollar and the pound, the company can make real savings.
The same applies to an individual from England on holiday in the United States.
Sites where you can convert
Our site offers convert all world currencies in pound, dollar or any currency. Simply select the currency of departure and arrival and the amount to be converted. In some manipulations the conversion takes place.
Currency conversion can be done at different levels:
During the recording of parts: the currency is automatically converted when it is recognized.
After accounting parts: the currency of the group can be converted after the recognition, according to the criteria defined by the user. This type of conversion takes place through the currency conversion function.
Currency Conversion for accounting
During recognition, the system converts currency based on your system configuration – for example currency transaction currency and group currency. For the data entered in the FI-SL, the currency conversions are performed on the basis of the rates defined in Customizing. You can manage these rates as often as necessary.
In many environments, the period and the exchange rate are used to solve and upgrade some positions currencies. Generally, amounts in foreign currency are not yet resulted converted into local currency. The currency is then converted to the currency of the group, taking into account gains and losses.
Upgrading for local purposes generally uses the open items of systems such as Accounts Payable and Accounts Receivable. In addition, foreign currency accounts (bank accounts, etc…) are generally upgraded.
After accounting for currency conversion
After the recognition of parts, you may want to convert currency again recognized. You can recalculate the amounts present using the currency conversion function, for example, on the basis of the financial year and the period during which the transaction took place.