Committed Expenses and Multiple Currencies
If you track multiple currencies in DPS, committed expenses are handled in a specific way.
DPS calculates and stores the committed expense in all of these currencies:
- The functional currency of the company that owns the project/phase/task.
- The project currency of the project.
- For the committed expense's billing extension, the project currency or the billing currency, depending on whether you select the
Use Billing Currency not Project Currency option in
.
This selection also controls the display of a project's committed expenses at cost rates or billing rates when you display committed expenses on project reports.
Create an Expense Transaction for the Income Statement
To display committed expenses on a project's Income Statement, you must create a voucher using in the desktop application.
If you use multiple currencies, when a purchase order line item is selected to be vouchered, DPS uses the voucher's bank code to determine the payment currency, and uses the voucher's voucher date to convert the amount in this payment currency to an amount in the purchase order's transaction currency.