Example

This section provides an example wherein a company creates a job in Maconomy using Euros (EUR) as the base currency and British Pounds (GBP) as the job currency.

The job is created on May 1, and the initial exchange rate on this date is EUR 160.00 = GBP 100.00.

The company prints an initial invoice on account on May 1 with a total billing price of GBP 20.00. The base currency value for this invoice is registered as EUR 32.00.

Date	Description	Base Currency (EUR)	Job Currency (GBP)
	Exchange Rate = 160,000
05.01	Invoice on account printed	32,000	20,00

On May 10, the exchange rate fluctuates to EUR 120.00 = GBP 100.00. The company creates a job entry with open billing price on the same day, with a total billing price of GBP 80.00. The base currency value for this open job entry is registered as EUR 100.00.

Date	Description	Base Currency (EUR)	Job Currency (GBP)
	Exchange Rate = 160,00
05.01	Invoice on account printed	32,00	20,00
	Exchange Rate = 125,00
05.10	Work in progress registered	100,00	80,00

On May 31, the exchange rate fluctuates again to EUR 130.00 = GBP 100.00. If the exchange rate on this date remains consistent until the customer pays a total of GBP 80.00, when the company exchanges this amount in the bank, an exchange rate variance occurs.

The Print Currency Report in Maconomy posts finance entries and reverting entries for the unrealized exchange rate gains or losses for each open job entry and unallocated invoice.

Date	Description	Base Currency (EUR)
05.31	Unrealized exch. rate var. (IOA)	-6.00
05.31	Unrealized exch. rate var. (WIP)	4,00
06.01	Revert unrealized exchange rate variance	6,00
06.01	Revert unrealized exchange rate variance	-4,00