Purchasing using Standard Cost in a Multicurrency environment
When you are working in Purchasing using Standard Cost in a Multicurrency environment, could be different type of variances, like price, freight, duties, etc., but there is one specific variance that my customer is asking me how to identify it when happen and it is exchange rate variance
Does anybody has experience with this issue before? Any recommendation is more than welcome
Example:
Item A: Standard Cost = 100 CAD, converted to USD $ 79.40
Enter a PO for Item A to X supplier at $90 USD, Exchange rate = 0.79 USD, Total Cost in CAD = 119.64
Therefore if you receive this item the JE created would be:
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