Currencies are managed in MVP by assigning a Currency record to a Vendor record. The currency field provides the primary currency used by the Vendor. The Vendor will determine the Currency Symbol displayed on a Line Item.

Upon the receipt of a Purchase Order, the line item cost in the vendor currency will convert, using its exchange rate, to your site currency. This will be reflected on the PO receipt.

Here is an example of a Purchase Order. Our example site is using the United States Dollar ($ USD), and we are purchasing from a Vendor in Europe who uses the Euro (€ EUR).

On Purchase Order records, all total fields in the PO General section will reference the totals of the Line Items, which are in the Vendor Currency. If your Purchase Order is for a Vendor that uses a currency other than your own, we will show the Purchase Order total in the Vendor's Currency, and then the Purchase Order Total in your site currency in brackets

 

On the Line Item, MVP One will reference the Vendor Currency.

 

And upon receiving the Purchase Order, MVP One will use the Vendor's currency Exchange Rate you have set up on the Vendor's Currency, and exchange the unit cost from the Vendor's Currency to your site's Currency. Receipts will always be in your site's currency.

 

When a Purchase Order is received, it is invoiced using the site's native currency and exchange rates. The PO receipt will display the site currency. In order to update the value of the Part based on the invoice information you must adjust the required Purchasing Setting (Settings > Purchasing > Update Inv. Unit Costs under the Purchase Order Invoicing section > Set to Yes).

For Purchase Requests, each Line Item can technically have a different Vendor, so all Line Items will display in their Vendor's Currency. MVP One will then take the Exchange Rate of every line item and convert the totals of each Line Item to be in your site currency. This is the value that will display in the Total Cost field above the Line Item grid.

 

 

On Part records, the Part Vendor association and users will use the Vendors native currency when adding the Unit Costs. When creating a Purchase Order for that Vendor, Parts are listed using prices in the Vendor's currency.