Updating Foreign Exchange Rates
Would anyone know how I can mass update foreign exchange rates in individual transactions?
What happened was transactions (bills, bank transactions, etc.) were brought in before the “currency exchange rates” page was updated (and eventually was hooked up to Thomson Reuters for automatic updates daily) so all the transactions are using a very old (and weird) system-generated foreign exchange rate, which is incorrect. I would need to update/ do some kind of a “refresh” so that it recognizes all those transactions actually have updated FX rates now and don’t use that old system one. Any idea how I can do this? As I really want to avoid having to go into every single transaction, seeing as how there are hundreds of them…
Thank you so much in advance!
as this will have financial impacts, are the Financial Periods still open?
what have you tried so far? I would start with triggering an update by CSV and the Internal ID of the transactions. Start with a small sample.
do you know the rate you want to have on each transaction? I would also then try mapping Internal ID and New Rate to the Currency Rate