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Project Cost Balance Discrepancy due to exchange rate

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edited Jul 31, 2023 4:33AM in Project Management 1 comment

Summary:

Unable to raise a Purchase Request due to Project Cost Balance Discrepancy due to exchange rate

Content (required):

Project Budget : 40,000 SGD

Project Balance : 5,551.52 SGD (due to exchange rate difference on Project Expenditure Date and Receipt date, the balance should be 8,898.36 SGD)

Unable to raise a Purchase Request of 6,000 SGD. Refer to the below on the transaction details:


Project PO Line Item Details:

Amount : 21,981.30 EUR

Project Expenditure Date : 26 Nov 21

Exchange Rate : 1.567

Converted Amount to SGD : 34, 448.48 (capture as Project Expenditure)


Project PO Receipt Details

Amount : 21,981.30 EUR

Receipt Date : 14 Dec 22

Exchange Rate : 1.415

Converted Amount to SGD : 31,101.64 (capture as Receipt Expenditure)


For the same line item, due to the exchange rate different (3,346.84 SGD), how can we release the exchange rate different back to the project budget?

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