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What is the formula for calculating Exchange Variance adjustment generated from Receipt Accounting?

edited May 15, 2024 10:43AM in Costing 2 comments

Summary:

A journal entry has been generated for a PO for the Event Type and Event Class 'Invoice Price Adjustment'. The event generated a journal entry line for Receiving Inspection and Exchange Variance adjustment. What is the formula to output the value of Exchange Variance Adjustment?

Content (required):

I logged this question in the "General Ledger & Intercompany" Category but was requested to log in "Payables" Category.

An FCY (foreign currency) PO has been created, received and invoiced. The PO line has been created with an Expense stock-able item and the Destination Type of the PO line is Inventory.

The receipt and Invoice exchange rates are the same as both were created on the same day, while the PO exchange rate is different. Upon running Create Accounting for Receipt Accounting subledger, the Event 'Invoice Price Adjustment' was created.

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