How Can iProcurement Users Create Requisition Templates in Foreign Currency? (Doc ID 292741.1)

Last updated on AUGUST 21, 2016

Applies to:

Oracle iProcurement - Version: 11.5.1 to 11.5.10 - Release: 11.5 to 11.5
Linux x86
z*OBSOLETE: Microsoft Windows 2000
Microsoft Windows (32-bit)
HP-UX PA-RISC (64-bit)
z*OBSOLETE: Microsoft Windows XP (64-bit Itanium)
IBM AIX on POWER Systems (64-bit)
HP-UX PA-RISC (32-bit)
Oracle Solaris on x86 (32-bit)
z*OBSOLETE: IBM AIX 4.3 Based Systems (64-bit)
Oracle Solaris on SPARC (64-bit)
Red Hat Enterprise Linux Advanced Server x86-64 (AMD Opteron Architecture)
Red Hat Enterprise Linux Advanced Server Itanium
SUSE \ UnitedLinux x86-64
IBM AIX on POWER Systems (32-bit)
Oracle Solaris on SPARC (32-bit)
HP Tru64 UNIX

Goal

How can iProcurement users create Requisition Templates in Foreign Currency?

Functional currency is set to Canadian Dollars (CAD). The buyer negotiates a price with the supplier in US Dollars which is foreign currency. iProcurement seems to always display the requisition templates in functional currency. This creates a problem because the price is negotiated in foreign currency. The exchange rate fluctuates so the requisition template in functional currency is not valid from the supplier's perspective. The supplier agreed to a price in foreign currency and expects to be paid the exact amount agreed in foreign currency. Since the exchange rate changes frequently the supplier will not get paid the correct amount unless the Requisition Template can be created on foreign currency.

The users want to create templates for suppliers in iProcurement in Canadian organization where functional currency is CAD. They want to create the Requisition Template in foreign currency of US dollars. The US dollar will be the constant based on the agreed to pricing. The CAD Dollars is the variable since the exchange rate fluctuates.

Solution

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