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How to revaluate the Revenue and Invoice Accounting Entries

edited Nov 24, 2021 8:40PM in Project Management 7 comments

Summary:

Revenue and Invoice Accounting Entries-Exchange Rate Issue

Content (required):

Hello, In Mexico we have several contracts in USD and the Ledger is in MXN Pesos and I was wondering if you can share with me any ideas about the following issue.

How to knock off the account Unbilled Receivables is the exchange rate changes every month, do I need to do a manual journal entry to revaluate the USD amounts.

Please Advise

Revenue

Dr Unbilled Receivables

Cr Revenue

AR Invoice

Dr Accounts Receivable

Cr Unbilled Receivables


Version (include the version you are using, if applicable):

R13

Code Snippet (add any code snippets that support your topic, if applicable):

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