Revenue Generation and Multicurrency

When you use the Multicurrency feature, you must perform some additional steps to set up and use Revenue Generation.

Before you process Revenue Generation for one or more projects, you must specify the exchange date on the Revenue Generation form (Accounting > Revenue > Revenue Generation). The exchange date identifies the exchange rate that Vision is to use from the Daily Exchange Rate table.

If you want to run Revenue Generation during the accounting period, Deltek recommends that you select today's date, or the closest date available, as your currency exchange date. If you do this, you must use the exchange rate for that date for all currencies in which you run Revenue Generation for that date.
Revenue Generation always calculates a project's revenue using the project information at the lowest level of the project's work breakdown structure.
Revenue Generation cannot be used with Multicurrency's currency override feature.

Currency Used to Calculate Revenue

Each of the standard revenue methods calculates a project's revenue in the billing currency.
When you process Revenue Generation, Vision determines whether or not additional revenue has accrued as a result of expressing the revenue in the project's billing currency. If it has, Vision translates this incremental amount into the equivalent amount in the project's functional currency, and posts the resulting amount to the General Ledger.
A project's revenue method formula often includes data that affects the project's billable amount. Any amount needed to reconcile the revenue amount with the project's billable amount is expressed as work in progress ( WIP) or Unbilled Services. This reconciliation amount is in the project's billing currency.
As part of the Revenue Generation process, Vision recalculates the unbilled balance in the project's functional currency and compares the amount to the unbilled balance in the billing currency (the currency in which revenue is being calculated) as of the exchange date specified on the Revenue Generation form. During this process, Vision resolves any difference between these balance amounts that results from exchange rate fluctuation.

Assume that you have a project with:

A functional currency of USD and a billing currency of GBP.
A user-defined revenue method of Labor times 3.0 multiplier + reimbursable expense.
Ten hours of labor worth 100 USD.

The timesheet for this labor is posted on a date when the exchange rate is 2.

Process Revenue Generation on a date when the exchange rate is 1.8.

If you have selected the option to calculate revenue separately in each currency, process Revenue Generation on a date when the exchange rate is 1.8.