Multicurrency and Inventory Items

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Posted on by pwk88

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hello,

I am seeming to have some trouble setting up inventory items being purchase in USD. The company is set up as a Canadian Dollar company. The problem is under the item card it shows cost in Canadian Dollar but we buy in USD. I have items linked to the vendor. The vendors are linked to USD currency and the cost is input through the vendor. But when you go to the inventory item card the cost is shown in CAD even though it was set up through the vendor in USD. There is no reflection in exchange rate.

For example Item 0011 is linked to a USD vendor. Under that vendor is where the cost of the item is stored. It is input as USD at $81once the item is bought it shows up in CAD under the PO and after it is received it shows up as $81 cost under the item inventory card. Which is incorrect. It should show up in the inventory card showing $81USD or show up as the equivelant in CAD which would be somewhere in the $89 CAD range.

Does anyone know the solution / problem and how to fix this ?

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soma 24,410 on at

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RE: Multicurrency and Inventory Items

The currency ID for the purchase order and receipt should be USD (Vendor Item Currency). Othewise, If you purchase a item for 80.00 with CAD even though if the receipt for the vendor item currency is USD, then the unit cost for the item shows 80.00 CAD in Item maintenance window. If you entered a PO&Receipt with USD(Vendor Item Currency), then the unit cost will show up with CAD for equivalent USD amount in Item Maintenance. Please check.

Hope this helps!!!