Foreign Currency

[Former Member]

I am working in SRM 7.0

I have created an Invitation for BID with line items that are denomiated in USD.

I then created a quote for the line items, expressed in EUR. The quote

is created and shows the items in EUR.

I then click Create Purchase Order in the Quote and the purchase order is

created. I then see that the line items are still denomiated in

EUR, onthe PO which is correct. But both the Price and Gross Price of

each line item has been adjusted to reflect the USD/EUR

exchange rate, which is being done in some background

process.

Why is this happening and where is it happening?

[Former Member · Accepted solution]

I am expecting the PO to be created with

the line item as follows:

Item - Widget

Quantity - 5

Price - 10

Currency - EUR

This is what I get on the PO:

Item - Widget

Quantity - 5

Price - 8

Currency - EUR

The line item on the quote is as follows:

Item - Widget

Quantity - 5

Price - 10

Currency - EUR

[former_member183819 · Accepted solution]

>

> I am expecting the PO to be created with
> the line item as follows:
> 
> Item - Widget
> Quantity - 5
> Price - 10
> Currency - EUR
> 
> 
> This is what I get on the PO:
> 
> Item - Widget
> Quantity - 5
> Price - 8
> Currency - EUR
> 
> 
> The line item on the quote is as follows:
> 
> Item - Widget
> Quantity - 5.
> Price - 10
> Currency - EUR

you are expecting whatever Bidder entered EUR and same must in the Purchase order EUR ?

what is the currency exchane rate on po created date?

if the currency is unique , QUOTE same price must be copied into the Purchase order.

Additional Currencies

Here, you select the currency in which the RFx is issued to bidders, plus acceptable alternative currencies. The bidders can bid in the currency of their choice, but the bid is displayed to the purchaser in the currency of the RFx. You can specify a date on which currencies are converted so, when you compare bids, you have a record of the exchange rates.

Note

Currency exchange rates vary by date. If you specify currency conversion date that is earlier than the start date of the RFx, the exchange rates of your selected currencies remain fixed for the duration of bidding. If you specify a date that is later than the start date, the exchange at the time of comparing bids may differ from the exchange rate when the RFx is published. If you do not specify a currency conversion date, the system compares bids using the exchange rate on that date

Jay :- can you help ?

Muthu

[former_member183819]

Hi

Note 1325850 - Issue with exchange rate in RFx

Note 1352425 - Currency change is inconsistent in quotation.

(1) learnt that your header currency USD in the Bid Invitation

(2) Additional currency is EUR and clarify what is the main currency in the Bid Invitation

(3) Bidder submited a Bid EUR

(4) PO created with EUR .

Check above note if it is applicable for you.

Please clarify your question once again. Exchange rate is a header data in the PO.

Currently i dont have the system to clarify your doubt and give more precious data to others. you will get answer.

what is exactly you are expecting? how system behaves .

if you did not get reply , please create a new thread.

Muthu

[Former Member]

The submitted quote was as follows:

Item Quantity Price

Widget 5 10 EUR

The PO was created as follows:

Item Quantity Price

Widget 5 8 EUR

Note: The exchnge rate was .8 EUR/USD

The PO should say since the vendor currency is EUR:

Item Quantty Price

Widget 5 10 EUR

[former_member183819]

As per standard , PO will be created as EUR since it is vendor currency.

FYI

Additional Currencies

Here, you select the currency in which the bid invitation is issued to bidders, plus acceptable alternative bid currencies. The bidder can bid in the currency of their choice, but is displayed to the purchaser in the currency of the bid invitation. You can specify a date on which currencies are converted so that you have a record of the exchange rates when you compare bids.

Currency exchange rates vary by date. If you specify currency conversion date that is earlier than the start date of the bid invitation, the exchange rates of your selected currencies remain fixed for the duration of bidding. If you specify a date that is later than the start date, the exchange at the time of comparing bids may differ from the exchange rate when the bid invitation is published. If you do not specify a currency conversion date, the system compares bids using the exchange rate on that date.

You can specify multiple currencies in bid invitation templates; however, you cannot specify currency conversion dates. Multiple currencies, and the exchange rates on the date of bid comparison, are used in reporting for the bid comparison.