Set Function Defaults for exchange rate – A summary of the activity

This activity allows you to set defaults for retrieving the exchange rates when required across business components. Defaults are set for the system to follow during a transaction. The system sets its default, which can be modified according to the business requirements. This page allows you to set the defaults the first time you use this business component.

This page allows you to set the intermediate cross currency, the default exchange rate type and the type of currency to be used. You can also set the order for retrieving the exchange rates for a given currency combination. Exchange rates are retrieved between two different currencies or a currency with respect to the base currency of company. The system stores the login user ID and the system date along with the function defaults when they are created or modified. A history of the changes will also be maintained by the system.