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Item Card and Currency

  • 1.  Item Card and Currency

    Posted Jul 02, 2020 01:00 PM
    We have B.C. company with reporting and functional currency Canadian dollar.   The Purchase Orders to Vendors for an Item are expressed in US dollar and are locked in for 2 years based on contract.  Multi currency is setup and a currency service is enabled with daily US rates imported and used in the B.C. company.   Unit Cost is converted from US to CDN once and entered as the Unit Cost for the Item.

    Any ideas on how to maintain the locked in US cost when Purchase Orders for the Item are generated as the currency is variable and is causing the US cost to change based on what day the PO is created?

    David Cameron
    Microsoft Financial Consultant
    Templer Group
    Academy - Online Interactive Learning from Experts

  • 2.  RE: Item Card and Currency

    Posted Jul 02, 2020 02:43 PM
    Hi David,

    I think all you need to do is record your locked in US Purchase Price in the Purchase Prices table as shown below. I hope this helps? Thanks.

    Purchase Prices

    Jim Wilson
    Independent Consultant
    Launch Project Management Ltd
    Bolton ON

    Academy - Online Interactive Learning from Experts

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