How are the foreign currency conversion rates calculated?
- Article Type: Q&A
- Product: Voyager
- Product Version: All
- Relevant for Installation Type: Dedicated-Direct; Direct; Local; Total Care
Question
How are the foreign currency conversion rates calculated?
Answer
1. Voyager collects currency amounts listed for actual commitment or expenditure from fund:
1.a. line_item charges from LINE_ITEM_FUNDS (PO) or INVOICE_LINE_ITEM_FUNDS (invoice)
1.b. "other" charges from FUND_PAYMENT
1.c. other tables with amounts to contribute: LINE_ITEM.PRICE and LINE_ITEM.PRICE_ADJUSTMENT
2. Charges subtotaled by fund.
3. Subtotals for each fund converted to base currency so that the fund balances can be adjusted.
3.a. If the PO (or invoice) not Approved, conversion rate is assumed to be a floating rate and uses current CONVERSION_RATE from CURRENCY_CONVERSION table.
3.b. If the PO (or invoice) is Approved, conversion rate is assumed to be fixed at time of approval and uses CONVERSION_RATE from PURCHASE_ORDER (or INVOICE) table, where it was stored during the approval process.
4. Once the fund subtotals are converted to base currency, funds are updated, and a record of the current commitment/expenditure levels is saved in the PO_FUNDS (or INVOICE_FUNDS) table.