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    • Full Scenario For Receipt Accounting in case exchange rate variance between PO and AP invoice

    edited Mar 26, 2025 5:27AM in Costing 2 comments

    Hello,

    Please could you provide a full journal entries derived from receipt accounting and cost management in case we have a PO created with foreign currency and the rate on PO is different from the AP invoice.

    I know the entries from AP side which in this case will be

    DR: Accrual

    DR: Variance

    CR: Liability

    I know that we will have entries also from the receipt accounting and cost management related to this variance, and my question here also, the account of this variance should be "Forex gain and lose" which is Class Revenue account or should be the PO Charge Account.

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