Question

Part cost calculation with different currency types

  • 29 September 2022
  • 0 replies
  • 15 views

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Hi,

Related to question https://community.ifs.com/finance-financials-42/currency-rate-part-cost-6083.

We have the same conditions as in above question.

Though we have > 100 000 purchased parts and several people calculates new parts during the year, we cannot calculate the parts in Excel, as suggested in the answer for the related question.

 

We use standard cost as inventory valuation method.

The purchase parts must be valued by a budget currency rate that is set once a year.

To handle this we have a currency rate type called Budget, set as Normal but not the default currency type for that.

 

The default normal currency rate is updated once a month from our financial system. This currency type is used by purchase orders and customer orders. Therefore it is no option to use the same currency type for both part calculation and every day work in Supply chain.

 

Is there any new functionality in IFS Cloud for cost calculation with different currency rate types?

We need the functionality for all options of part cost calculation.


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