Contract Revenue in one currency (CHF) and Invoice Currency in another (EUR). How to manage ERV?
We have a business case where
Functional Currency in GL Ledger: CHF
Contract Currency: CHF - e.g. 100k CHF
Contract is a fixed price and Revenue is recongnized on CHF
Billing Currency: EUR. Invoice Currency Conversion Date: Invoice Date. Invoiced Amount in EUR 110k which is converted a total 105k CHF
This will generate a difference between the invoice total amount in CHF (unearned revenue) and recongnized Revenues in CHF (unbilled)
Is there a way to manage such difference (5k) and to report it at project level?
Project Billing and Revenue Recongnition in a different currency