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Purchase receipt - currency exchange rate

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Posted on by Alex_Ste 124
Hi all,
 
is it possible from a purchase  order in a foreign currency post different purchase receipt with different exchange rates .
Basically link the excahnge rate (and so the expected cost )to the posting date of the purchase receipt .
This because from the date of the purchase order to the different receipts it could pass a lot of time .
 
Thank you for any advise
Many thanks
Alessandro 
Categories:
Purchasing
Financial Management
  • Alex_Ste Profile Picture
    Alex_Ste 124 on at
    Purchase receipt - currency exchange rate
    Hi Yun , thank you for your answer , my problem is not how to retrive and upadate the exchange rates . 
    The problem is to post from the  same order different purchase receipt with different exchange rates linked to the posting date, is it possible? Is there any setup to consider?
    many thanks
    Alessandro 
  • Alex_Ste Profile Picture
    Alex_Ste 124 on at
    Purchase receipt - currency exchange rate
    Hi Valentin, thank you for your answer.
    In my test the exchange rate is linked to the document date field not to the posting date , and to update the document date it's mandatory to reopen the order
    Is this depending on a setup?
    Many tahnks
    Alessandro 
  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 68,242 Super User 2024 Season 2 on at
    Purchase receipt - currency exchange rate
    Hi, just adding some information, since the exchange rate cannot be entered manually, this needs to be maintained in advance in Currencies, you can also use an external service to update the exchange rate daily.
    Automate Currency Exchange Rate Updates (Currency Exchange Rate Services and Transformation Rules)
     
    Hope this helps.
    Thanks.
    ZHU
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 21,647 Super User 2024 Season 2 on at
    Purchase receipt - currency exchange rate
    The system already does that automatically, if you have everything setup correctly:
     
    • The foreign exchange rate on a Purchase Order is based on the Posting Date field on the Purchase Order. Whenever you change the posting date, the system will automatically change the exchange rate as well to match that new date. It takes the exchange rates from the Currencies Page.
    • when you post a receipt from a purchase order, the posting date of the receipt will be based on the posting date of the purchase order
    • so if you create a purchase order with posting date x, if you post the receipt, it will also have posting date x. If as in your example, a lot of time passes from the creation of the purchase order to the posting of the receipt, you would for example change the purchase order posting date to y, then the purchase order will have the updated y fx rate, and the receipt will also have the y posting date and expected cost would use the y fx rate
     
     

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