MichellO's avatar
Cover User
12 years ago

Multi-Currency: Job assigned to currency gain/loss

When a Foreign Currency payment is made, the "job number" is left blank when the journal is posted to FX Gain/Losses in the P&L.  It would reduce my workload of having to process manual GL journals, if the gain/loss was automaticlly posted to the job number the purchase was recorded against. 


"Currency gains/losses allocated to a job number"


  • When there is an exchange gain or loss when an invoice is paid or received there is no way I can see to allocate this to a job.The accrual P&L and the job P&L should be the same as all P&L entries should be coded to a job but the exchange gain or loss has to be reversed by journal entry without a job number against it and then entered with a job against it.


    As part of the new version of account right is this able to be fixed so you don't have to do this extra step.


    Any thoughts on how to get around this would be appreciated.  



  • When offsetting a payment received in foreign currency against an invoice raised in foreign currency there is a foreign currency gain/loss generated.  If would be very handy to be able to allocate a job number to that variance at the time it is created and nominate the account to transfer the expense too. (eg having an additional box to fill in)


    This is also the case with Purchases.  When offsetting a FC payment against a FC purchase order a foreign currency variance is created.  Again being able to allocate a job number to the variance and being able to nominate which account the expense was allocated too would be very good.


    This also applies to allocating job numbers to the finance charged when offsetting or allocating payments.  There is an area to allocate the amount of the charge but you can not alloacte a job number to the expense.


    We deal will Fees and FC variances every day and the charges can be thousands of dollars per transaction and currenty each time we need to allocate the job number to the expense we need to complete a general journal entry which is very time consuming.