What is exchange rate date in SAP FS-PM - Policy Management?

SAP Term: exchange rate date

• Component: FS-PM

• Component Name: Policy Management

• Description: Reference date on which, for multi-currency products, the exchange rate for currency conversion is determined.

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• Key Concepts: 
  Exchange rate date is a field in the FS-PM Policy Management component of SAP that allows users to enter the date of the exchange rate they wish to use for a particular transaction. This date is used to determine the exchange rate that will be applied to the transaction. 
  
  How to Use It: 
  To use the exchange rate date field, users must first select the currency they wish to use for the transaction. Once this is done, they can enter the date of the exchange rate they wish to use in the exchange rate date field. This will then be used to determine the exchange rate that will be applied to the transaction. 
  
  Tips & Tricks: 
  It is important to ensure that the exchange rate date entered is accurate, as this will affect the exchange rate that is applied to the transaction. Additionally, it is important to note that if no exchange rate date is entered, then the current date will be used as the exchange rate date. 
  
  Related Information: 
  For more information on how to use the exchange rate date field in FS-PM Policy Management, please refer to SAP’s official documentation on this topic.