Incorrect currency on purchase order

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Posted on by crawlenj

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Hi All,

I need some advice on the best way to unravel this situation:

PO was entered with item cost £12,000 (local currency GBP). This was received and the received item in inventory was issued out on a sales order & invoice.

The purchase invoice is for EUR 1200, so I need to do 2 things:

1) Revalue the inventory item

2) Create a Purchase invoice with the correct currency & amount

I have tried amending the PO and reversing it and the purchase receipt, but because there is no item in inventory (it has been issued on a sales document) I can't.

My questions are:

When I try to enter a revaluation journal it has an error message saying the item must be completely invoiced. Do I have to create an invoice from the incorrect PO (which I will then have to reverse with a credit memo) before I can enter a revaluation journal? Or is there another way to enter a revaluation journal.

Will the revaluation journal change the cost of the item on the sales invoice (or is the item cost not connected to sales documents?)

Is there any other way to do this that will allow me to amend the original PO and then turn it into a correct invoice?

Many thanks!

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crawlenj 130 on at

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RE: Incorrect currency on purchase order

Hi Inge,

That's great, thank you - no, unfortunately I cannot change the currency on the purchase order. The error message is connected to the fact that the items have been marked as received.

I will correct it as you have advised.
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Inge M. Bruvik 32,748 Super User 2024 Season 1 on at

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RE: Incorrect currency on purchase order

If the orginal PO is not invoiced yet, have you tried to simply change the currency code of that PO?

If that works you should be able to invoice the original PO with the correct currency code.

If you are unable to change the currency code of the orginal PO you need to complete the invoice in the incorrect currency.

Make a creditmemo and then a correct Purchase invoice again. But first of all simply try to change the currency code on the PO.

The item revaluation journal will change the cost also for posted sales documents.

You can read more about that here:

bc365.co/.../