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What is the source of the foreign exchange rates in Acumatica?

  • November 6, 2020
  • 3 replies
  • 1769 views
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How do I find out the source of the system foreign exchange rates in Acumatica.  I have searched but are unable to locate.  I need to provide to our auditors. 

Any help much appreciated.

Best answer by BenjaminCrisman

Hi @Ophillips ! In Acumatica ERP, you can set up the ability to refresh currency rates by using the Open Exchange Rates API currency rate update service. Also, you can set up the system to automatically refresh the currency rates according to a schedule that meets your business needs. If needed, you can configure the system to adjust a currency rate upward or downward for a particular rate type during the automatic updating of rates.

Acumatica gets the rates using the Open Exchange Rates API:

https://help-2020r2.acumatica.com/(W(10))/Help?ScreenId=ShowWiki&pageid=0fa49e15-f514-4ea4-9de7-844cac733eb1

The landing location is https://openexchangerates.org/

 

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BenjaminCrisman
Acumatica Employee
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  • BenjaminCrisman
  • Acumatica Support Team
  • 704 replies
  • Answer
  • November 6, 2020

Hi @Ophillips ! In Acumatica ERP, you can set up the ability to refresh currency rates by using the Open Exchange Rates API currency rate update service. Also, you can set up the system to automatically refresh the currency rates according to a schedule that meets your business needs. If needed, you can configure the system to adjust a currency rate upward or downward for a particular rate type during the automatic updating of rates.

Acumatica gets the rates using the Open Exchange Rates API:

https://help-2020r2.acumatica.com/(W(10))/Help?ScreenId=ShowWiki&pageid=0fa49e15-f514-4ea4-9de7-844cac733eb1

The landing location is https://openexchangerates.org/

 

patrickcolgan94
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4 people like this
  • patrickcolgan94
    patrickcolgan94
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  • Chris Hackett
    Chris Hackett
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  • ptingle10
  • Freshman I
  • 11 replies
  • February 22, 2023

Do you have to set up a specific type of account with Open Exchange Rates to set up the API?

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Freshman I
  • gonsy48
  • Freshman I
  • 1 reply
  • March 23, 2023

I have a similar issue.

 

My client’s auditors want screenshots of the source of the rates found in Acumatica (i.e. they want to see the list of rates in openexchangerates.org). I assume they want to verify that that Acumatica is pulling though the correct rate and from a reliable source.

 

The problem is openexchangerates.org does not provide any such lists and only gives you the ability to subscribe to using their API. so I cannot find any way to prove the rates are correct..

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