Exchange rates

When something is posted in a foreign currency, mcomtask converts it to your base currency with an exchange rate. This page shows the rates it uses: Bank Negara’s published rates, and any manual rates your organization has entered. Consolidation runs use them too. Everyone with access to the accounting books can view the page; entering a manual rate is for people your administrator has allowed to manage exchange rates.

Open Exchange rates under Accounting in the sidebar.

Bank Negara reference rates

The first table lists Bank Negara reference rates: ringgit (MYR) per one unit of the currency. They are the same for every organization; you cannot change them.

Column	What it shows
Rate date	The day the rate applies to
Currency	The foreign currency
Rate (MYR)	Ringgit per one unit of that currency
Source	Bank Negara

Your manual rates

The second table, Your manual rates, lists rates your organization entered.

Column	What it shows
Rate date	The day the rate applies to
Pair	The From and To currencies
Rate	Units of the To currency that one unit of the From currency buys
Reason	Why it was entered
Entered by	Who entered it

A manual rate wins over the reference rate for its day. Rates are never edited: a correction is a newer entry for the same day, so superseded rates stay listed, newest first.

Find a rate

Each table has its own filters: Currency, From date and To date. Clear filters removes them. Select a column heading to sort by it, and use Previous and Next to page through.

Enter a manual rate

Use this when a posting must use a rate other than Bank Negara’s, for example the rate your bank actually gave you.

1. Select Enter a rate.
2. Fill in the form and select Save. You will see “Rate recorded.”

Field	What to enter
From currency	A three-letter code, e.g. USD
To currency	A different three-letter code, e.g. MYR
Rate date	The day the rate applies to
Rate	Units of the To currency that one unit of the From currency buys, e.g. 4.4120
Reason	Why you are entering it

Save stays disabled until every field is filled and the two currencies differ.

Caution

A manual rate is used for every posting on that date in that currency pair, from the moment you save it. To correct it, enter a newer rate for the same day; the old one cannot be removed.

Problems

You see	What to do
“No reference rates are stored yet.”	The Bank Negara rates have not been loaded yet. Ask your administrator.
“Your organization has not entered any manual rates.”	Nothing is wrong; postings use the reference rates.