ANTE User ManualForeign Exchange Rates
The Foreign Exchange Rates workspace is the one place for the exchange rates your accounting uses. It has two tabs over a single model: Daily rates are the source, and Period rates (the month-end closing rate and the monthly average rate) are derived from them. When you translate a financial statement into your reporting currency, it is these period rates that do the work. You reach it at Treasury → Configuration → Foreign Exchange Rates.
Above the tabs sits a Rate book selector. A rate book is a named set of rates, so you can keep alternative rate sets side by side. Everything below the selector shows the selected book; with none chosen you are looking at the default book.
Rate Books
Use the buttons beside the Rate book selector to manage books.
Reports and the translation dialog let you choose a rate book, falling back to Default book when you do not.
Period Rates
The Period rates tab shows a grid of months for one currency pair and year, with a Closing column and an Average column. These two rate types are what translation uses.
- Pick the pair and year
Choose the Base currency, the Quote currency and the Year. The two currencies must differ; otherwise the tab asks you to pick two different currencies. A hint line reminds you that closing and average are derived from the daily rates.
- Read each cell
Every cell carries a badge that says where its value came from.
- Override a cell when needed
Use the Override action on a cell to open the Reporting FX Rate dialog already filled with that pair, rate type and month.
| Badge | Meaning |
|---|---|
| Derived | Computed from the daily rates. A "Leaned on stale/carried days" note appears when a day had no fresh rate and an earlier one was carried forward. |
| Override | A rate you entered by hand. It wins over the derived value. Use Revert to derived to delete it and track the derived rate again. |
| Frozen / 1:1 / Historical | Other provenance labels the grid can show: a frozen (snapshot) rate, a 1:1 identity rate, and a historical rate. |
| — | A gap: no rate exists in the FX system for that month. |
Adding or Editing an Override
The Add Reporting FX Rate / Edit Reporting FX Rate dialog stores a manual period rate.
A rate entered in the wrong direction translates every balance wrongly. Always confirm the sentence under Direction matches the number you typed.
Daily Rates
The Daily rates tab shows the day-by-day spot rates for the selected book, with the same manual override, bulk override and automatic fetch tools used in the rest of the system. These are the source: closing, average and historical values are all derived from them, so keep them current. The Provider settings & sync button jumps to where the rate providers are configured (see Exchange Rate).
If a month shows gaps on the Period rates tab, fill the missing days here or pull from the provider, and the period rate follows.
Reporting Currency Translation
Reporting Currency Translation (RCT) re-presents your financial statements, kept in the functional currency, in a reporting currency for group reporting, following IAS 21. It never posts a journal entry; it computes a translation on the fly, including a cumulative translation adjustment (CTA) that makes the translated balance sheet balance. This workspace supplies the rates it needs.
- By default, balance sheet accounts translate at the closing rate and profit and loss accounts at the average rate. Individual accounts can be given a different rate type (closing, average, historical or carried forward) from the account's edit screen on Chart of Accounts.
- The reporting currency itself is chosen on Accounting Settings.
- On the Balance Sheet, Income Statement, Trial Balance, Cash Flow and Statement of Equity, the Apply Reporting Currency dialog lets you choose a Reporting currency and a Rate book (or accept the defaults), then Apply. Values are replaced in place and an export shows both currencies side by side.
- If a needed rate is missing, translation is blocked and the missing rates are listed so you can add them on the Period rates tab.
Before a month-end translation, open the Period rates tab for your pair and confirm both Closing and Average are filled for every month in the year.
How It Connects
Set up first
- Accounting Settings — sets the functional currency and the reporting currency the rates translate between.
- Exchange Rate — configures the rate providers and sync that fill the daily rates.
Feeds into
- Balance Sheet — translated at closing rates when a reporting currency is applied.
- Income Statement — translated at average rates when a reporting currency is applied.
- Trial Balance — can be translated into the reporting currency using these period rates.
- FX Revaluation — revalues open foreign-currency balances using the exchange rates.
- Chart of Accounts — per-account rate type overrides change which rate translation uses.