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Experienced Member

Sales Order to Purchase Order with Multi-Currency Issues

Hello. I am a US based company so we proccess customer purchase orders in USD but my supplier is European so Purchase Orders are placed in Euro. Multi-Currency is enabled and locked at 1.25 exchange rate through 12/31/2019. The Item List Cost is set in USD with the Euro vendor name, meaning the cost is actually Euro NET * 1.25 to calculate the USD NET Cost. Item list Prefferred Vendor is set to the Vendor Account which set up in Euro's. As an example, Cost in QB at $1,000 yields a 75 Euro cost.

 

So... the problem is; When using "New Transaction", "Purchase Order" directly from the Vendor center with the Euro vendor selected, Quickbooks uses the USD NET Item List Cost and devides by 1.25 to get the Euro NET. All good here and everything works 100% correctly.

 

Problem... when a Sales Order is generated for the USD customer and then "Create Purchase Order" from the SO itself, the QB DOES NOT take USD NET Item Cost and divide by 1.25 to calculate the Euro NET. Meaning each time a PO is generated from the SO the cost is incorrect (at USD NET vs. Euro NET). It's like the "Item Cost" is carried over from the item list without dividing by 1.25. If we delete an item line and re-enter in the same item within the incorrect PO, it then pulls the price correctly. QB is somehow not linking the SO to the Euro vendor at the time of conversion to PO.

 

Only work around we've found is to enter the customer Sales Order, Generate a separate Euro PO and within the PO select the Customer Job... to track PNL and have our PO linked to the actual customer SO. Or generate a PO from the SO but back each line item out and then re-enter each line item. Both work, but not efficient whatsoever and leaves a lot of room for mistakes. Terribly frustrating and hope someone has an idea of what's going on. Please help! Thank you.

3 Comments
QuickBooks Team

Re: Sales Order to Purchase Order with Multi-Currency Issues

Hi @EASandiego,

 

You have the option to verify and rebuild your company file. Allow me to help you accomplish this so you can create a purchase order from a sales order with multi-currency.

 

First, verifying and rebuilding your company file identifies and fixes data issues. Here's how:


To Verify Data:

  1. Go to the File menu.
  2. Tap Utilities then Verify Data.
  3. Click OK on the prompt.

To Rebuild Data:

  1. Click the File menu.
  2. Go to Utilities and select Rebuild Data.
  3. Hit OK to back up your company file.
  4. Wait until the Rebuild is complete.
  5. Click View Results.

Once completed, I'm confident you'll be able to create a purchase order with EURO currency from a sales order with USD currency.

 

Lastly, here's an article you can read to learn more about running the verify and rebuild tool: Resolve Data Damage on your Company File.

 

I'll be always around here in the Community if you have any other questions.

Experienced Member

Re: Sales Order to Purchase Order with Multi-Currency Issues

Thank you for the guidance but rebuilding did not work. 

 

We can place a PO directly from the SO, however, the software DOES NOT take the USD Cost and divide by the 1.25 Euro Exchange rate. Yet I can enter the exact same Item on the same wrong PO, under the wrong Item Price and it calculates 100% correctly.

 

I think there is a bug in QB.

QuickBooks Team

Re: Sales Order to Purchase Order with Multi-Currency Issues

Thank you for getting back to me, @EASandiego!

 

We haven't received any reports about the inaccurate calculation of currencies of your items from sales order to purchase order.

 

Since the issue persists after verifying and rebuilding your company file, I'd recommend contacting our Customer Care Support. Here's how:

  1. Go to Help.
  2. Select QuickBooks Desktop Help.
  3. Click Contact us.

This way, you'll be able to investigate this issue further. They can also help you convert your sales order to purchase order with correct currency calculations.

 

In addition, here's an article as your guide in contacting our support: Contact QuickBooks Desktop Support.

 

It'll be always my pleasure to help if you have any other questions about QuickBooks Desktop. I'm always around ready to help.