Projects Currency Conversion Question
Hi All,
We do have a requirement with regard to currency conversion and I am trying to address that. The requirement is as follows;
1. We are a US company with all our currency set up in USD with Multi Currency Billing enabled.
2. We do have a couple of Canadian projects where they need to be billed in CAD which I can do by changing the Invoice Currency Code to CAD in the Customer form in Projects. There is no Canadian Operating Unit or entity.
3. We do have consultants working on our Canadian projects and enter expenses in CAD. And our current setup converts the expense reports entered in CAD to USD for reimbursing/costing in Projects in USD. And later when the invoice is generated, it is done with a conversion rate at the Spot rate (Rate Type we use) for the invoice date to convert from USD (functional currency) to CAD (Invoice Currency). And this results in Expense Report entered in CAD to be shown in the invoice with different amounts due to rate changes from the time expense report was entered (expenditure
We do have a requirement with regard to currency conversion and I am trying to address that. The requirement is as follows;
1. We are a US company with all our currency set up in USD with Multi Currency Billing enabled.
2. We do have a couple of Canadian projects where they need to be billed in CAD which I can do by changing the Invoice Currency Code to CAD in the Customer form in Projects. There is no Canadian Operating Unit or entity.
3. We do have consultants working on our Canadian projects and enter expenses in CAD. And our current setup converts the expense reports entered in CAD to USD for reimbursing/costing in Projects in USD. And later when the invoice is generated, it is done with a conversion rate at the Spot rate (Rate Type we use) for the invoice date to convert from USD (functional currency) to CAD (Invoice Currency). And this results in Expense Report entered in CAD to be shown in the invoice with different amounts due to rate changes from the time expense report was entered (expenditure
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