Raley PO allows you to submit purchase requests in different currencies. The currencies permitted for submission of a PO are set by a FINANCE user in the Raley Finance Settings. The following screenshot shows example configuration:
The Base Currency is a currency in which purchase order will be submitted by default. If you need to submit a PO in another currency, simply switch it as indicated below:
The base currency is used to:
1) Keep a reference price for products/services in the Budgets & Suppliers → Suppliers → Products
2) Keep tracking of budgets
3) Specify Upper Limits in Company Approval Tiers
4) Specify personal approval limits to individual approvers
The currency rates are re-evaluated daily at 1AM UTC via exchangeratesapi.io
A purchase order is always expressed in one currency. We use the most recent exchange rate to calculate required approvals from corporate approval tiers and show indicative personal limits.
When user adds a new order line and the purchase order is in a currency different from base currency, the following behaviour applies:
a) If the product or service is a new one (not present yet in Products registry), then the system will use the Unit price expressed in order currency and convert it to the price in base currency. The price in base currency will be stored to the registry of Products.
b) If the product or service already exists in the registry of Products/Services, then it's reference price will be taken from there and converted to the price in the currency of purchase order.
Deliveries are also expressed in the currency of a purchase order. You can see both in the Purchase Order reports (HTML and CSV). Here's an example:
Budgets are recalculated using latest exchange rates at the moment of report generation.
