A non-function currency claim:- Employee while updating a
non functional currency claim the system uses the period
end rate i.e. any claim pertaining to the period 01Aug -
25th Aug. the system uses the period end rate as of July
31st. (2) Also, what is the basis of using the period end
rate not the average rate for expenses claim. Can you
please clarify my question.
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Answer / Ajit Tiwari
The period end rate is used in non-functional currency claims because it provides a consistent exchange rate throughout the accounting period, making financial reporting easier and more accurate. Using the average rate could result in different exchange rates for transactions occurring at different times within the same period, leading to confusion and errors. The system uses the period end rate as of July 31st to ensure consistency and simplify calculations.
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