View or edit exchange rates on credit notes

About viewing or editing exchange rates

For foreign currency credit notes, select the Exchange Rates tab to view or amend the exchange rate used to process the credit note.

The exchange rate applied to the credit note depends on whether you can view exchange rates.

  • If the Exchange Rates tab is available, the current exchange rate is applied to the credit note. This may be different to the exchange rate when the return was entered.

    You can change the exchange rate before printing the credit notes (if the exchange rate is Amendable), and the printed credit notes will use the new rate.

  • If the Exchange Rates tab is not available, the exchange rate set when the return was entered is applied to the credit note.

    Note: You can only view and edit the exchange rates if you have selected the settings to Use exchange rates when printing invoices and credit notes from Sales orders (to view rates) and Edit exchange rates when printing invoices and credit notes from Sales Orders (to edit rates). Both settings are available in the SOP Settings Document Printing tab. See Printing options (SOP settings / Invoice and order settings).

The currency and the type of exchange rate are taken from the customer account.

  • If the customer uses a single exchange rate, the exchange rate set in the exchange rate table is used.

    • For the Euro, enter the exchange rate in the 1 Euro equals column for your base currency. Euro exchange rates are entered as Euro to base, e.g. €1 = £0.87.

    • For other currencies, enter the exchange rate in the 1 £ equals column.

    If you edit a single rate, you can choose to save the new exchange rate when you print the credit note.

  • If the customer uses period exchange rates, the exchange rate for the period that includes the credit note date is used.

    If no period exchange rate has been set up for the credit note date, then the most recent period exchange rate is used. If no period exchange rates have been set up at all, the exchange rate is set to 1.000.

    • For the Euro, enter the updated exchange rate in the Period Euro Equals column.

    • For other currencies, enter the updated exchange rate in the Period £ Equals column.

    If you edit a period exchange rate, you can't save the new exchange rate, but it will be used for the credit notes that you print.

Change the exchange rate used on the credit note

Open: Sales Order Processing > Document Printing > Print Credit Notes | Exchange Rates.

  • Enter the new exchange rate in the relevant column.

Outcomes

The exchange rate displayed or entered here is used to print the credit note, and when you post the credit note to the sales ledger and the nominal ledger.

See also

Printing options (SOP settings / Invoice and order settings)

Maintain exchange rates