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Slide notes: To explain how we can profit from the Forex function that is available on Tag Templates, we will do an example.

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Slide notes: We suggest that we have this Report that produces an Income Statement, and the base currency of the system is US Dollars. However, we are based in Grand Cayman, in this example, and we would like to also see the Report in Cayman Dollars. So we have made a copy of the Report, and in the 1st instance, before making any changes, let us see what the Report looks like.

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Slide notes: For the sake of our example, let's note this Staff Costs amount. In fact, all the amounts on the Report are going to change, but it's easier to just focus on the 1 Amount to observe the difference.

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Slide notes: Now we will use the Template functions to apply a mass change to all the Tag Templates.

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Slide notes: We will change the Forex Setting on all Tag Templates.

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Slide notes: After making mass changes, it is necessary to re-generate the Template Commands.

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Slide notes: And if we are going to use Forex calculations in the Report, then we will need an Exchange Rate. Therefore, we will choose a pre-run process that includes the Forex Rate field for the User to select.

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Slide notes: We'll use a Rate of 2, which means that all Amounts will double up in the Report, compared to the previous result, because we chose the Forex Setting to 'multiply'.

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Slide notes: And it is easy to see that the previous result of 18,000 here has doubled to 36,000. Why so? All because we applied the Forex function on all the Tag Templates.

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Slide notes: So this is an example of how a Report can easily be copied and with a few quick changes can be turned into a brand new Report presented in a different Currency. But it is not the only use of the Forex function, which can also be applied selectively to only some Tags on a Report, for defined purpose, and in fact, it can also be used to convert Physicals to Financials at a defined conversion rate, etc.

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Slide notes: Looking at one of our Tag Template examples on this Report now, we can see the 'Forex Exchange Rate' field, and the current setting is the multiplication function that we selected as a mass update for all the Templates.

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Slide notes: The help on this Field offers another version of explanation.

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Slide notes: The Forex function here is used to automatically convert Amounts at a selected Rate, and the function is of course quite separate from the availability of inherent Forex Values and answers that can be extracted by Name from Forex managed Accounts.