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Foreign Exchange Rate - Conversion rate calculates incorrectly for the project

Question asked by karthick-aravind.raja-jawahar on Apr 23, 2019
Latest reply on May 8, 2019 by Shoichi_Sugawara

We have a europe project with FY18 values for Cost & Budget plans(01/04/2018 to 31/03/2019) and In our Financial Module under setup menu, our currency is for the project EUR(Europe) and we want to convert as JPY(Japan) currency.

 

System Format:-

-------------------------

From Currency    To Currency       Conversion Rate       Rate Calculation Method       Exchange Rate Type Effective Date
EUR                   JPY                      150.000000                Multiply                                     Average                   01/04/18
EUR                   JPY                      151.000000                Multiply                                     Average                   01/04/19
EUR                   JPY                      152.000000                Multiply                                     Average                   01/04/20

 

The problem is, project calculates the budget & Cost values with FY20 conversation rate(130.815640 instead of calculating FY18 Currency rate(129.000000). Why does it calculate the value with (01/04/20) conversion rate specifically? Is this calculating based on recent/latest exchange rate creation? because when i entered to the screen,  it checked by default "Show current rate only" Check box. Hope this is multiplying because of recent effective date exist.

Do we overcome this issue? As this is a FY18 project, it should calculate/Multiply with FY18 Conversion rate. Should not multiply with FY19, FY20 conversion rate or any other latest Fiscal year conversion rate.

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