Forum Discussion

Thirsty's avatar
Thirsty
Member
4 years ago
Solved

Inventory value for orders that have had a deposit and final payment with different exchange rates

Hi

Lets say we order 100 units USD1 each.

A 50% prepayment is made when the exchange rate is 75c - AUD66.66

The final payment is made and the exchange rate is 70c - AUD71.43

Total cost AUD138

 

Does the inventory show as a weighted average value of those 2 exchange rates - total cost AUD138 and 1.38 each?

 

Many thanks

  • Mike_James's avatar
    Mike_James
    4 years ago

    Hi Thirsty , welcome to the forum.  

     

    The value of the entry to inventory will be the order(/bill) value converted at the exchange rate assigned to that transaction. 

     

    Any difference in the rates used on the deposit or final payment will be accounted for as realised currency variances

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  • Mike_James's avatar
    Mike_James
    Ultimate Cover User
    4 years ago

    Hi Thirsty , welcome to the forum.  

     

    The value of the entry to inventory will be the order(/bill) value converted at the exchange rate assigned to that transaction. 

     

    Any difference in the rates used on the deposit or final payment will be accounted for as realised currency variances

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