How do you create a job with another currency?
Let’s have a look at how you can create a job with a specific currency code other than your local currency.
I will click on new, and have the system take the next available number. I need a description, and maybe we’ve helped with training of some employees. I will then choose the customer number. And I’ll choose one from my local currency country.
In this example, I will only create one job task number. Now I have one job task number of the type posting, so I’m able to post entries to this job. And let’s say that the future Bike Shop here are owned by an American corporation, and we want to handle the whole job in US dollars.
Then we need to enter a value in the currency code field. By default, this field will be empty, even though you choose an invoice and currency code.
If you enter a foreign currency code, the whole job will be planned and invoiced in that currency. And of course, based on the exchange rate, it will be calculated to fit our local currency for ledger entries and so on.
I will modify the currency code as US dollars. And make sure you consider whether the exchange rate calculation for cost and price should be fixed foreign currency, or fixed local currency. So, you can control whether the amount or the amount on local currency stays constant. For now, we’ll use the standard which is fixed foreign currency.