Committed Expenses and Multicurrency

If you use the Multicurrency feature, committed expenses are handled in a specific way.

Vision calculates and stores the committed expense in:

• The functional currency of the company that owns the project/phase/task,

• The project currency of the project, and

• 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 on the General tab of Configuration > Accounting > System Settings for the Reporting at billing rates option.

  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 Accounting > Accounts Payable > Create Voucher from PO.

If you use the Multicurrency feature, when a purchase order line item is selected to be vouchered, Vision 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.