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Can Acumatica automatically calculate average weighted rate for currency translation?

  • 25 November 2022
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Hi guys,

We need to do translation of financial statements and I learned from the course F340 that when you try to define an average rate, you enter it manually in the “currency rates” form (CM301000). Can Acumatica automatically calculate average weighted rate?

Thanks!

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Best answer by RoyceLithgo 28 November 2022, 04:23

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Hello,

In the Help I found information about how to configure Acumatica to automatically update currency exchange rates:

Currency rates may have expiration dates. Expired currency exchange rates are stored as Historical Rates in Acumatica. Therefore, ‘late’ documents may be entered after the fact using the ‘historical rate’ -- the rate that was the current exchange rate on the date of the older document.

Userlevel 5
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I can’t imagine how this would be possible. You could setup monthly average rates to be created using a Generic Inquiry and an Import Scenario, but to do weighting means it would need to be something provided within Translations which I don’t believe has such a feature.

Rates loaded via OER are daily spot rates only. You’d need those to be loaded every day for the month to calculate an average for the month.

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