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    Invoices > Which date does Alma use to convert foreign currency to local currency to transact against the fund? Will it convert at today’s rate, or at the rate which was valid on the date of the invoice?

    • Article Type: Q&A
    • Product: Alma

    Question

    Invoices > Which date does Alma use to convert foreign currency to local currency to transact against the fund? Will it convert at today’s rate, or at the rate which was valid on the date of the invoice?

    Answer

    It will convert at today’s rate. The invoice date does not affect the exchange rate.
    The influential factor is the transaction date.
    In the creation of the transaction, the exchange rate is populated (by searching the rate by the creation date in exchange rate table).


    • Article last edited: 10/29/2014
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