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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / How to have multiple c...
Finance | Project Operations, Human Resources, ...
Answered

How to have multiple currencies in Project?

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Posted on by Deepa Paranthaman 95

Hi

Can we use multiple currency in project? I want to record the cost in the local currency and the billing should be done in other currency.

I have a project created with local currency as SAR (For instance). All my updates in WBS and project transaction as recorded as per the project currency.

Now the Sales price mentioned in the WBS will be update in invoicing and this needs to be USD as per the customer. 

Also what if i have fixed price project? can i change the currency in on-account transaction? If yes, How will this impact in project statements and budget?

How do i address this? In spite of multiple try, i feel that am confused. Please help me out and give me better clarity for this.

Regards

Deepa

I have the same question (0)
  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Deepa,

    Is your 'local currency' your accounting currency?

    All project related cost transactions are posted in the accounting currency. There is no choice that you have for this one.

    The sales currency can be specified differently in the project contract.

    Example: You post hour costs for 150 SAR. The sales price is 222 USD.

    What you will see when invoicing this transactions is total costs of 150 SAR and a total revenue of 222 EUR.

    The project statements will convert the sales currency into the accounting currency in your project statements so that you compare SAR costs and SAR revenues (Note: In my demo machine there seems to be a bug but in previous versions this works fine, so please double check).

    Best regards,

    Ludwig

  • Deepa Paranthaman Profile Picture
    Deepa Paranthaman 95 on at

    Thanks Ludwig :)

    Will try the same

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    If you get the same problem with the currency display in the project statement form, then log a bug with MS please.

    I double checked that in AX2012 where things worked fine but in the latest D365FO version that I have available the translation of the foreign currency revenue did not happen correctly.

    Many thanks for the support and all the best,

    Ludwig

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