Hello: At the end of each month, our parent company's office shares currency exchange rates with us for entry into GP. That means that, as of right now, we do not have April's exchange rates--only March's. As usual, we entered March's exchange rates into GP physically at the end of March. These rates were dated in the exchange rate entry window, in GP, as of 03/31/2016 with an expiration date of 04/30/2016. So, we have been using these rates for April's transactions. Using rates dated as of the end of a month and using those rates in transactions for the next month is a process that we have been conducting for a while. Conversely, when reviewing financial statements, we use those end of month rates for that month's financial statements. So, the March rates that I just mentioned are used for financials for the period ending 03/31/2016. It seems odd to me to use exchange rates for transactions for the next month, while using essentially different exchange rates for reporting. Is this truly an oddity, or is there something that I'm simply not understanding? Thanks! John
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