Rates Difference

[k.khan]

what is the difference between user rate and spot rate,on which conditions we use spot if some one have any example plz share it with me.
thanks

[admin]

<b>Spot:</b>An exchange rate which you enter to perform conversion based on the rate on a specific date. It applies to the immediate delivery of a currency.

<b>Corporate:</b> An exchange rate you define to standardize rates for your company. This rate is generally a standard market rate determined by senior financial management for use throughout the organization.

<b>User:</b>An exchange rate you specify when you enter a foreign currency journal entry

[k.khan]

thanks admin
it means that spot rate is the daily rate and user rate can be any thing but if a contract states that the paymemt has to be made above 65 and lower 70 in case of dollor fluctuation then system will make check on it or not in case of contracts only where we have to match invoice with receipt as well