Currency Conversion

[Former Member]

Hi,

Just wanted to check if there are any recommended way for doing currency conversions?. For example I always want to calculate amount in GBP, where the price could have specified in different currency. Or what all care I should take?

Regards,

Yogesh

[Former Member · Accepted solution]

Hi

Adding to what Vikram has said, you need to make sure to keep most updated exchange rates are maintained. This could be done by scheduling a job (import currency converion sheet) to periodically update the conversion rates.

Also determine a source from where you would get the updated currency converion rates.

Regards

Mudit Saini

[Former Member · Accepted solution]

Thanks guys for the promt reply. I want to do this calculations in the script, not in the report.

So I may just need to do the conversions in the script by reading the rates from 'Currency Conversion- master data'

Regards,

Yogesh

[Former Member · Accepted solution]

Yes Yogesh, its as simple as that. Just make sure you use the correct APIs and take care of exceptions.

Thanks

Devesh

[vikram_shanmugasundaram]

Hi Yogesh,

If you are storing the currency conversions in Sourcing, then you could use that. Using scripting you should be able to access the currency conversion object.

If this is for reporting purposes, you could set it up such that the system converts the currency to GBP, in the report output. This has to be done for column type "Monetary Currency" and set the Currency Conversion Source to 'Selection' and select GBP.

Regards,

Vikram