|PERMISSION NAME||PERMISSION DESCRIPTION||CATEGORY|
|Compensation Currency Rates||Grants ability to define currency conversion rates and decimals of precision. This is an administrator permission.||Compensation - Administration|
The pop-up is separated into two sections: Conversion and Precision.
- Conversion - The Current Rate value displays the currency's current conversion rate. In the New Rate field, enter the new conversion rate for the currency. The conversion rate can utilize up to four digits to the right of the decimal point. The New Rate field is no longer required. Note: When editing the organization's default currency, the Current Rate and New Rate values are displayed as N/A. Also, once a compensation task begins, the conversion rates are locked for the life of the task.
- Precision - The Default value displays the default annual precision rate, which is used for annual compensation rates. This value is set by the system based on standards for the currency. From the Hourly Rates drop-down list, select the hourly rate precision, which is used for hourly compensation rates. The maximum precision value is four. If the Hourly Rates Precision is modified, all new tasks use the new precision value, but existing tasks are unaffected.
Click Submit to save the currency conversion rate and hourly rate precision.