Question

Currency Rate Override in GL Transaction Not Reflected Accurately in Project Transactions

  • 29 November 2023
  • 13 replies
  • 133 views
N
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We have recently upgraded our client to Acumatica 2023R1. Since the upgrade we have noted that the transactions posted in the GL related to Projects is not accurately reflected with the exchange rates defined in the GL transaction.

 

A transaciton is created and released in the GL to reclass project costs from one project to another, and a specific exchange rate is updated in the transaction.
 

GL Transaction in MYR with the exchange rate override 1MYR = 27.3973 JPY

GL transaction in JPY (base currency) at JPY445,590

 

However, in the Project Transactions, the exchange rate used is the current rate based on the transaction date and post period:
 

This therefore raises a discrepancy for the same transaciton within the GL compared to the Project Balance.

 

Prior to the upgrade, users could update the exchange rates as necessary and the same rate would be used in both the GL and the Project transaciton for each transaction.

Please advise if we have missed something. We have turned on Multi-Currency for Projects, and Override Currency and Rates for the relevant Customers for the relevant Projects are also checked.

 

13 replies

ESTEPALINA
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Hi @natashalim,

Have you reported a support case already? If not, please do.

We need to review this closer.

 

Thank you for highlighting!

Thank you!
N
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Userlevel 1

Hi @ESTEPALINA ,

Thanks much for responding. Will submit a support case. In the mean time, is there any work around that we can implement as this will be a bit of a problem for the client…

 

 

 

Chris Hackett
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Hi @natashalim were you able to find a solution? Thank you!

Chris ~ Let us know how we're doing: https://forms.office.com/r/xmJUdZ1QE5 - A member helped you, please *Like* their post. A member provided an answer to your question, please mark it as *Best Answer*.
ESTEPALINA
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Hi @natashalim,

let me review and get back to you.

Thank you!
N
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Hi @Chris Hackett and @ESTEPALINA ,

We are still waiting for a solution from Acumatica support. But in the meantime, we have developed a temporary fix to enable posting with the "correct” user defined exchange rate to the Project Transactions. The client has just completed testing and we will be deploying it to the Live environment soon.

However, this is probably not an ideal solution for the long term…

Would appreciate any insights you may have as to why the transaction is not posted to the Projects as per user defined rates and as per GL.

Thanks much.

 

ESTEPALINA
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Hi @natashalim ,

Do you know the support case number?

Regards,
Kate

Thank you!
N
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Userlevel 1

Hi @ESTEPALINA 

Thanks much for your message. We have just received an update that the case has been escalated. Should I share the case number here?

Thanks much.
Natasha

 

ESTEPALINA
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Hi @natashalim,

 

You can share the case number here or in a private message to me in Community, how works best for you.

 

Thank you!

 

Thank you!
ESTEPALINA
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Hi @natashalim ,

I see the support case now, please disregard my request above.

 

Thank you!

Thank you!
N
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Userlevel 1

Just thought I should update that the current response that we received was that the discrepancy between the posted amounts in base currency and the exchange rates used between the modules is as expected, i.e. that the project module will use the current spot rate regardless of the rate that was used and posted via the GL. Am a bit concerned with this, as this was not how it used to work prior to us upgrading our instance.

Would appreciate any insights on the matter.

Thanks much.

ESTEPALINA
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Userlevel 3
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Hi @natashalim ,

I’m reviewing this now.

Thank you!
T
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Userlevel 3
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I have a client with this very issue.  They use multiple rates due to hedging contracts they make for longer term projects and this situation makes it a nightmare to manage as on some projects they’d need to update the project rate before posting any Bill.  

ESTEPALINA
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Userlevel 3
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@tommaricle43 ,

For your client, what’s the project currency? Does it differ from the base currency? What’s the transaction currency?

 

Thank you for feedback!

Thank you!

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