Open Job Entries and Unallocated Invoices
When you create a job entry in Maconomy, you enter a billing price in the job currency based on the price list on the current date.
When job entries are registered continually on the open job, they use this billing price. Because the invoicing process and due dates may be carried out much later in the process, a billing price in a foreign currency may gain or lose value.
For example, if you have a long term job with open billing prices, evaluating and posting exchange rate variances when a job is closed or when invoices are posted may result in significant losses due to exchange rate fluctuations throughout the duration of the job.
You can manage unrealized exchange rate gains or losses regularly throughout the job process, instead of when job entries are closed. This allows you to better visualize growing gains or losses due to exchange rate fluctuations.
- Related Topics:
- Financial Operations Workspace
The Print Currency Report tab under the Currency Reevaluation section allows you to print and post unrealized exchange rate variances for open job entries jobs capitalized at billing price and unallocated invoices on account. - Job Cost Setup Workspace
Job posting references are used to determine where unrealized exchange rate variances are posted. - Financial Analysis Workspace
You can view posted entries for exchange rate variances in the Financial Analysis workspace. - Posted Entries with Exchange Rate Variance Gain
You can post exchange rate gains for open job entries with open billing price by activity type. - Posted Entries with Exchange Rate Variance Loss
To post exchange rate variances on unallocated invoices, use the Invoiced on Account, Variance field to indicate the job posting reference.