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Credit Memo Is Using Different Exchange Rate Rather That Exchange Rate On Original Invoice Date (Doc ID 2688709.1)

Last updated on JULY 09, 2020

Applies to:

Oracle Fusion Project Billing Cloud Service - Version 11.13.20.04.0 and later
Information in this document applies to any platform.

Goal

On : 11.13.20.04.0 version, Manage Project Contracts-Manage Project Contract Revenue

Why the Credit memo is using different exchange rate rather than the exchange rate on the original invoice date?

A contract is created in a different currency (CU1) from ledger/Project currency(CU2). Billing events are created in GBP and the invoice is generated where invoice currency is CU1 on DAY.
Invoice is submitted, approved, released, transferred, and imported to AR and accounted. Invoice status is accepted after running AR Tieback process and invoice amount in ledger currency gets populated as per rate on DAY. Invoice is canceled on DAY+1 which generates a credit memo and exchange rate is different from DAY.
A credit memo is submitted, approved, released, transferred, and imported to AR and accounted.
Status of credit memo is accepted after running AR Tieback process and the amount in ledger currency gets populated, but the exchange rate is picked as per DAY+1 (Credit memo date) rather than invoice date DAY.

In Specify Customer Contract Management Business Function Properties setup, Conversion Date Type for Invoice Currency to Ledger Currency is Invoice date.

The expectation is that rate should be picked as per the original invoice date rather than Credit memo date.
 

Solution

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In this Document
Goal
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