As you all know, multi-currency is the key feature for Sage X3. With the multi-currency support, you can define Suppliers/Customers in Sage X3 with different currencies such as INR, USD, AUD, EURO, etc. This helps the user to do the ERP transactions in various currencies depending on the Supplier/Customer currency. But sometimes, you may face an error “No currency exchange rate” while creating payment entries.
Now we will see, why this error occurs and how to fix this?
Suppose, Purchase Invoice is created against supplier who is having currency other than INR and user is trying to create payment entry against the same invoice then it does not allow to create payment entry against that invoice because of the currency rate error. This error occurs because it does not get currency exchange rate to calculate the amount in INR.
For Example – We have created Purchase Invoice – 1012010PINV00004 for Supplier SD0012 whose currency is USD which is already defined in Supplier master. As you can see in the below screenshot, we have selected same invoice from open items for SD0012 supplier in Payment entry screen but it is not allowing to create entry and giving an error “No currency exchange rate USD -> INR”.
To solve this error, only one simple solution is needed. You have to add currency rate for that particular currency in Currency Rate master.
Path: Common Data-> Common Tables -> Currency rates
As shown in the above screenshot, we have defined the currency rate for USD and saved the data in currency rate master.
After that, we tried to create payment entry again in which we have selected same invoice from open items for SD0012 supplier and entered all the required details in Payment entry screen. The Payment Number – SPIN2010101000001 is generated without any currency rate error and payment entry for that particular supplier is created successfully.
Sometimes same error occurs on Receipt screen while creating Receipt entry for customer. Customer who is having currency other than INR may get “No currency exchange rate” error on the receipt entry screen. You can solve this error too by following the same steps which we have mentioned above for payment screen.
Hence by defining currency rate in Currency Rate master, user can easily solve “No currency exchange rate” error on Payment as well as Receipt screens.
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