Holding Rate Changes

A screen similar to the one below is displayed. The currency is a three-character code, and you may use the <F4–Select> key to see which currencies are defined, and which one to select for changing. The <Escape> key at the currency code prompt returns you to the foreign currency program main menu.

After you have selected the currency you want, you are asked:

A holding rate is assumed to apply to the whole of an accounting period. You can specify a different rate for each period of the present year, or you may change those in use for the previous year.

You must define a holding rate for period 1 of the year, but you need not define a rate for each subsequent period until there is a rate change. Applications assume that if the holding rate for a particular period is zero, then the holding rate is the same as it was for the previous period. Thus you need specify a holding rate only for period 1, and that rate applies to all subsequent periods until you give a rate change. If the decision were taken to change the rate in period 9 (say), then you need only change the rate for period 9. Periods 1–8 would take the rate given in period 1, and periods 9–12 would take the rate given in period 9. Non-zero rates would only show in period 1 and period 9 in the above screen, however.

Details about the currency are displayed, and new rates can be entered for each period. Note that rates can be entered with up to four places of decimal, but monetary amounts are printed only to two decimal places.

Once you have made any changes to the holding rates, press the SAVE button to update the changes.