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Does anyone know if it is possible to link an item to a currency, and automatically update the prices (of base currency) on an item, based on the exchange rate table?
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Hi James Solomon,
I do not know how this requirement can be fulfilled in the standard application without making a system modification.
Why is it that you want to have cost price adjustments based on fluctuating exchange rates?
Doesn't this make the analysis of your sales orders (especially margins) very difficult if you have daily/hourly changing cost prices?
Can you possibly explain a bit more about the business requirement behind?
Many thanks and best regards,
Ludwig
Thanks for the reply Ludwig - my assumptions are/were in line with your response.
In short, the customer purchase a specific item in a specific currency (e.g. AUD) -Their company/accounting currency is USD. Currently their item COST price (CP) is a formula calculation of the PURCHASE price (PP) +plus+ some additional charges. So whenever their PP changes, their CP has to change as well.
The supplier gives them a new PP (in AUD), which they would like to assign to the trade agreement as AUD, and automatically update the item PP (and thus the item CP) with the delta of AUD and the exchange rate (USD-to-AUD).
Naturally this must only happen for items that are setup in AUD.. and thus the initial question whether it is possible to link an item to a currency.
But, as far as I know, you cannot link an item to a currency.
Hello James Solomon,
What comes to my mind in this case are the automatic charges that you can setup in AP.
Let's say that you receive an AUD invoice, then you can say that you want to add a charge on top of that. What might be interesting for you is that you can define the charge currency, which can be different from the invoice currency.
Maybe that is a functionality that might help you to get this resolved?!
Best regards,
Thanks Ludwig
It is a specific requirement, so I don't think the workaround will be accepted. I will give it a try though!
thanks!
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