You can run a job in Business Central using a currency other than your local currency. Set the currency code in the job card’s currency code field, and the whole job is planned and invoiced in that currency. The system converts amounts to your local currency for ledger entries based on the exchange rate.
By default the currency code field on a job is empty, even if you have selected an invoice currency code. You must enter a foreign currency code yourself to run the job in that currency.
You also control how the exchange rate is calculated for cost and price. You choose between Fixed Foreign Currency, where the foreign currency amount stays constant, and Fixed Local Currency, where the local currency amount stays constant. The standard setting is Fixed Foreign Currency.
Creating a job with a foreign currency code
When you create a new job, the system assigns the next available number. You give the job a description, for example a project where you have helped with training of some employees, and you select the customer number.
Next you add a job task number. A job task of the type Posting lets you post entries to the job. In this example a single job task number of the type Posting is enough to start posting entries.
Setting the currency code on the job
If the customer is owned by, for example, an American corporation and you want to handle the whole job in US dollars, you enter US dollars in the currency code field on the job.
This field is empty by default, even if you have already chosen an invoice currency code. Once you enter a foreign currency code, the whole job is planned and invoiced in that currency. Based on the exchange rate, the amounts are then calculated back to your local currency for ledger entries and similar postings.
Choosing the exchange rate calculation method
Before you continue, consider how the exchange rate calculation should work for cost and price. You choose between two options:
- Fixed Foreign Currency: the amount in the foreign currency stays constant.
- Fixed Local Currency: the amount in your local currency stays constant.
This setting controls which amount remains fixed when the exchange rate changes. The standard setting is Fixed Foreign Currency, which is what most jobs use.
Q&A
How do I set up a job in a currency other than my local currency?
Enter the foreign currency code in the currency code field on the job card. The whole job is then planned and invoiced in that currency, and amounts are converted to your local currency for ledger entries based on the exchange rate.
Why is the currency code field on my job empty even though I chose an invoice currency code?
The currency code field on a job is empty by default. Selecting an invoice currency code does not fill it in. You must enter the foreign currency code yourself.
What is the difference between Fixed Foreign Currency and Fixed Local Currency?
With Fixed Foreign Currency the amount in the foreign currency stays constant. With Fixed Local Currency the amount in your local currency stays constant. This determines which amount remains fixed when the exchange rate changes.
Which exchange rate calculation method is the standard?
The standard setting is Fixed Foreign Currency.
What type of job task do I need to post entries to a job?
You need a job task number of the type Posting. This allows you to post entries to the job.