All Project entries are recorded on Historical Cost, as determined by the Project Date or the Open Ledger Accounting date (depending on the Parameters set).

When adjusting Project Entries or using the functionality Post Costs. Dual Currency scenario's are not accurately handled and posted.

An enhancement to the process, will be to ensure that Adjustments/Post Costs are performed from the original transaction and that the Accounting Currency and Reporting Currency values are determined off the original posted vouchers or Transaction ID's and not by applying the adjustment date Exchange Rates.

At the moment, date based inputs on Project Accounting creates permanent differences on Reporting Currency and requires consistent Reporting Currency Adjustment journals on Main Accounts prohibited for Manual Posting.

Example:

Source Transaction = ZAR 450.00; Posted: 3 Feb 2022.

Accounting Currency = ZAR, Reporting Currency = USD.

When performing a Post Costs entry and selecting 3 Feb on the transaction - Accounting Currency and Reporting Currency is correctly interpreted.

The Post Costs function is however generally used as an Adjustment event in future periods.

When performing the entry on 7 Feb, the Accounting Currency entry will be correct, but the Reporting Currency scenario will have interpreted the entry on the 7th of Feb and creates a permanent difference on a Balance Sheet account.

Therefore the request to ensure that Project Accounting transactions and adjustments are carried on Historical Cost.