Sage Intacct Exchange Rate Type

Modified on Fri, 28 Apr 2023 at 10:41 AM

Sage Intacct allows exchange rate types at both the top level and entity level when a multicurrency transaction is involved. Quadient AP allows you to set a foreign exchange rate type for invoices when coding invoices. This feature is applicable to both top-level and entity-level integrations. 

Important to note

  • The Exchange Rate Type list is only in the Invoice module. It can not be used in the Purchase Order or Payment module. 

  • The Exchange Rate Type list has two default values (Custom & Intacct Daily Rate) that will not sync into Quadient AP due to technical restrictions.

  • To use the Intacct Daily Rate value, leave the exchange rate type blank in Quadient AP.  

  • This Exchange Rate Type list should be set to inactive if you no longer need to use it.

Enabling Exchange Rate Type 

In Quadient AP

In Settings, navigate to List Management. Select the correct Legal Entity, and select the Exchange Rate Type list. If you do not see any list items under the Exchange Rate Type list, run a sync using SmartSync. By default, the Exchange Rate Type list is inactive. Toggle the Active field from No to Yes to activate the list. 

For Top-Level connections, the Exchange Rate Type, Base Currency and Transaction Currency fields must be coded on an invoice. For Entity-Level, the Exchange Rate Type and Transaction Currency must be set. The invoice can then go through the approval process and be exported to Sage Intacct. 

In Sage Intacct

Following a successful export, the invoice will be visible in Sage Intacct. The selected currencies and exchange rate type along with the exchange rate can be viewed under the Currency section on the invoice. 

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article