- You can define foreign currency variance posting rules on the Foreign Currency Variance Posting Rule page.
- Each rule specifies the account into which gain or loss resulting from foreign currency variances is posted. This account is the Destination Account.
- The rules consist of a set of source or revaluation transaction criteria that determine the posting account.
- The default system-generated accounts are also used if no rules match the transaction.
- Each variance posting rule must have a unique set of criteria. Each transaction is compared to the foreign currency variance posting rules in the order of rule priority.
- When a matching rule is found, that rule is used and evaluation ends. Key fields, custom segments, and custom fields that apply to Purchase, Sale, Journal, Customer Payment, Vendor Payment, or Deposit are available as criteria.
- Custom fields are limited to the following types:
- Check Box
- Currency
- Date
- Decimal Number
- Email Address
- Free-Form Text
- Integer Number
- Adding, modifying, and removing rules does not affect transactions for which the foreign currency variances have already been posted.
- You must create the posting accounts you want to set as the destination accounts before you create the rules. The destination accounts must be account types Other Income or Other Expense.