Creating Foundations Exchange Rate Groups

You can decide how you want to categorize the different areas of your org and create an exchange rate group for each category. For example, you could create a separate group for each company or region in your org. Exchange rate groups enable you to store a default currency as well as the currencies that you want to record exchange rates for.

To create an exchange rate group:

  1. From the Currency & Exchange Rates app, click the Exchange Rate Groups tab.
  2. Click New.
  3. Enter a name for the exchange rate group. This name must be unique. We recommend that you create a convention to help you to easily identify different rate groups, such as UK - Merlin Tech, US - Merlin Tech, etc.
  4. Enter the default currency for this group. Any exchange rates that you enter for the group are relative to this currency. You cannot change the default currency after you have saved the group.
  5. Select the additional currencies that are relevant to this group and click . You can only record exchange rates for the selected currencies.
  6. Click Save.

When you have created your group, you can start to record exchange rates for the group.

To maintain an accurate audit history, it is not possible to delete an exchange rate group after rates have been recorded for it. If you want to stop using a group, we recommend that you rename the group to identify it as inactive.