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Hi,
We have been entering daily exchange rates into GP for our multicurrency. On setup, I had set my "Rate Variance" to 0.100 for the USD to CAD daily rate table.
However, the rate restrictions do not appear to be functioning, as I am able to enter rates that are way beyond the limits set from teh Rate Variance.
Is there something else that is going on?
Thanks!
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I have a business alert looking for typos on exchange rates so I get an email when the rate has a goofy amount in it.
Good point - not sure about the original poster but in my case someone miskeyed a rate, entering 9.xxxxx instead of .9xxxxx and that rate was used for numerous transactions, which we just found and now have to void and re-enter. Took me forever to figure out why the variance wasn't enforced so figured I'd update this post in case anyone else has need of that function.
if the rate entered is valid, from a government, bank, or market source, then why put a variance restriction on it? Are you really checking for typos? If all GP does is stop the system from using the rate outside of that range then it kind of defeats the purpose of putting a rate in every day.
Ian
I should clarify my last sentence above - I got the error or prompted for the password when attempting to enter a rate with a variance greater than the limit, which is what I wanted to see happen.
I found the same thing and that I had to go to the Multicurrency Setup window (Tools, Setup, Financial, Multicurrency ) and either set a password for the Override Rate Variance option, which was enabled in my system, or disable that option altogether. Once I did that I got an error that I couldn't override the rate variance or I got prompted for the password, depending on which option I had selected.
Setting the 'Rate Variance' does not stop a value outside the variance range being entered into GP. What the rate variance does do is stop that value being used in transactions. If GP finds an exchange rate outside of the variance range, it will not use that value and will see if there are any other exchange rate values they meet the dual ciriteria of being in the variance range and being date active.
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