3.11. Exchange Rates

Last Updated 01/18/2023

Setting up Exchange Rates

Exchange rates define the rate of exchange between currencies. Evergreen will automatically calculate exchange rates for purchases. Evergreen assumes that the currency of the purchasing fund is identical to the currency of the provider, but it provides for two unique situations: If the currency of the fund that is used for the purchase is different from the currency of the provider as listed in the provider profile, then Evergreen will use the exchange rate to calculate the price of the item in the currency of the fund and debit the fund accordingly. When money is transferred between funds that use different currency types, Evergreen will automatically use the exchange rate to convert the money to the currency of the receiving fund. During such transfers, however, staff can override the automatic conversion by providing an explicit amount to credit to the receiving fund.

Create an exchange rate

To create a new exchange rate, navigate to the Acquisitions Administration option in the Administration menu.
Select Exchange Rates from the Acquisitions Administration splash page.
Click New Exchange Rate.
Enter the From Currency from the drop-down menu populated by the currency types.
Enter the To Currency from the drop-down menu populated by the currency types.
Enter the exchange Ratio.
Click Save.

Edit an exchange rate

Edit an exchange rate just as you would edit a currency type.

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