What does the budget exchange rate table do?

The budget exchange rate table specifically serves to store budget exchange rates for subsidiaries. In multi-currency environments, especially in organizations with subsidiaries operating in different countries, it's crucial to maintain a record of the exchange rates used for budgeting purposes. This ensures consistency and accuracy in financial reporting across various currencies. By having a designated table that captures the relevant exchange rates, businesses can effectively prepare their budgets while accounting for fluctuations in currency values. This tool is vital for financial planning, allowing subsidiaries to convert their budget figures into a common currency for consolidated financial statements or performance evaluations.