These spot rates are used only for statutory revaluation purposes, so in practice you are likely to change spot rates only for the period you are working on. This program option works just like the holding rate change described above.
Note
Since this spot rate is used just for statutory revaluation purposes, the only times you really need to set spot rates is at year end (for your final accounts) or at VAT quarter ends if your base currency is not your own country’s currency — see above.
Article ID: 866
Created On: Tue, Jun 26, 2012 at 10:56 AM
Last Updated On: Tue, Jun 13, 2023 at 12:54 PM
Online URL: https://kb.datafile.co.uk/article/spot-rate-changes-866.html