What is Exchange rate management?

The rule deciding which rate a foreign-currency price uses and when that price is updated. It is a pricing decision more than an accounting one: leave a rate stale and a floor calculated in lira quietly stops holding, while updating on every small move makes prices flicker in front of customers. Currency data is prepared when the order arrives and written to the ERP with it, so the figure on the invoice is the figure the order was taken at. See multi-currency and exchange rate management.

Read the whole glossary as one article ›