Rate types

Under the Rate types tab you register different rate types. You can register an optional number of rate types. You enter an exchange rate to each rate type when you register a new currency under the Currencies tab.

Rate types can be used e.g. if you want to use one exchange rate in sales but another in purchases. You can also enter deviating rate types on customer level, supplier level, and order type level. Other rate types can be used for other purposes, e.g., used when revaluating ledgers and currency accounts.

You can also delete rate types. When deleting a rate type, a validation is made to make sure that the rate type is not used in the system.

You enter the rate type for customer and supplier in the Customer register and Supplier register, respectively. Via the system settings Default rate type under the Sales tab and under the Purchase tab, you determine which rate type should be used as default rate type when registering new customers and suppliers. Via the system setting Default rate type under the Manufacturing tab and under the Stock tab, you enter which rate type should be used as default when, e.g., calculating and valuating stock/WIP when conversion is made via foreign currency (for example when using supplier prices).

Description

Here you enter a name/a description text for the rate type. By using the button Translations you can translate the text to the different active languages registered in the system. Read more about language management for translatable texts.

AFS Rate

Here you decide which rate type you want to use as AFS rate.