Transactions and multicurrency

In the base configuration, transaction amounts are computed using the as-rated currency amounts on the costs. PolicyCenter then converts the transaction amounts to the settlement currency using the same exchange rate, PolicyFXRate, as the cost associated with the transaction. This is one way that an insurer might handle exchange rate changes during a policy term. You can configure PolicyCenter to handle the exchange rate in other ways during transactions.

The createEntityTransactions method in the PolicyPeriodTransactionCalculator class converts the transaction amount to the settlement currency using the exchange rate. The PolicyPeriodTransactionCalculator class is a read-only file.

The properties on the Transaction entity are:

Property	Description
Amount	The transaction amount.
AmountBilling	The Amount in the settlement currency for billing.
PolicyFXRate	A foreign key to a copy of the exchange rate from the exchange rate service. This points to the same exchange rate used to calculate the cost associated with this transaction.