Determines the exchange rate posting: Direct or Indirect. That is, the method for calculating the amount of a transaction in local and foreign currencies.

Once a journal entry is posted, this setting cannot be modified.

Field name: DirectRate.

Field name in the application: Exchange Rate Posting - Direct/Indirect.

To display the form in the application:

• Select Administration --> System Initialization --> General Settings --> Display tab.

tYES - Direct rate. The system multiplies the amount in the foreign currency with the exchange rate.

tNO - Indirect rate. The system divides the amount in the foreign currency with the exchange rate.

For example, if the local currency is Euro and 1 Euro = $1.33 US, for direct posting the user should set an exchange rate of 1.33; for Indirect posting the user should set 0.75 (1/1.33).

AdminInfo Object