Purchase History Currency Rates

Version Relevance: All versions

Issue: We are updating and checking our costs at present and have noticed that products booked in with a Yen appear to be picking up the first currency rate entered in September 2003.

I have attached an example where the order was raised in Jan 04 and the goods were booked in on 2 April 2004 yet the rate of exchange shown in confirm PO price is 116.85 which was the very first rate set for Yens.

Please can you advise why this might be happening as all the products purchased in other currencies appear to be picking up the correct rates.

Jul 21st, 2004

Feedback: When you change a currency rate, you can revalue PO's, but NOT PO history. The rate that will apply to PO history is the rate that was on the PO when it was received in, and you cannot change it subsequently in confirm PO prices. (If using verification from A/P Invoices and Credits however, you can change the rate that will be applied to the subsequent invoice).

Check when you raise a PO in Yen that the current rate is being applied (on the first tab pane of the PO). This will change if you ask the system to revalue after changing a rate. (If you forget to do this, you can change the currency on the PO to something else, and then change it back to Yen to get the latest rate). Whatever is here will be applied to PO history when you receive it in.

If you have some PO history that you would like to change the rate on (for FIFO current cost update for example), you could ask your System Manager to very carefully change the rate for the PO history in Peek and Poke (PUHRATE).

Paul Wilson - Caliach Consultant