AutoRate uses exchange rate information in the GL Daily Rates table to enter exchange rates for any foreign currency invoices or payments that have no exchange rates. AutoRate cannot update exchange rates unless you have first defined exchange rates in the GL Daily Rates table that match the invoice or payment currency, rate date, and rate type. See: Entering Daily Rates.
If a foreign currency invoice has no exchange rate, then Invoice Validation applies a No Rate hold to the invoice, which prevents payment and accounting of the invoice. After AutoRate enters an exchange rate for the invoice, the next time you run Invoice Validation, the system will remove the No Rate hold. Payables does not create accounting entries for foreign currency payments that have no exchange rates.
AutoRate also provides exchange rates for future dated payments that have no exchange rates for payment maturity.
You submit the AutoRate Program in the Submit Request window. See: Submitting Standard Reports, Programs, and Listings. This program has no parameters.