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Is there an explanation of how Project Exchange Rate works in SuiteProjects?

in Ask A Guru 11 comments

Hello all again! I'm trying to get my head around how the Project Exchange Rate works in SuiteProjects. We are using multicurrency transactions, and when foreign currency transactions are posted, they calculate to the ledger correctly. However, when charges are generated on the project, the Project Exchange Rate field is used.

I assume there is a good reason for this and was wondering whether we could have someone explain the intended use for managing and reporting a project's transactions.

We are used to USD 100 appearing as USD 100 on a project, but as it is first converted to base currency on the ledger (let's say GBP 80 for example), then back again using the project rate (if it is 0.85, USD 94) we are seeing slightly different values and want to understand the intention so we can assess whether we can align with NetSuite.

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