How to clear contract price variance from foreign currency in RMCS? — Cloud Customer Connect
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How to clear contract price variance from foreign currency in RMCS?

Summary:

We have some contracts that are in different currency than the ledger currency. When billing occurred, the difference hit the Contract Price Variance account. I would like to know when and how will the contract price variance account be cleared.

Content (please ensure you mask any confidential information):

The below example, this contract is billed in USD and the ledger currency is ARS. When the billing occurred, it debited the Contract Clearing account and credited the Contract Asset account. But it also credited the Contract Price Variance account in the ledger currency account. My question is when and how will the balance in the Contract Price Variance be cleared? Will it be cleared in the end of the contract? And is there any job or process needed to perform to have it cleared? Thank you

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