Advanced Procurement: Enable users to capture and display supplier-quoted foreign currency amounts directly on requisitions

Supplier provides a quotation in a foreign currency (e.g., ZiG), and the procurement user receives the quoted amount from the supplier.

User creates a requisition in the system. However, the current system requires the amount to be entered in the base currency (USD) rather than the supplier's quoted currency.

User manually converts the supplier's quoted amount into the base currency using the applicable exchange rate before capturing the transaction. This introduces an additional manual step and increases the possibility of calculation errors.

The system applies currency conversion logic to derive the foreign currency equivalent. If incorrect values are entered or exchange rates are misunderstood, transaction values may become overstated or understated.

Finance and procurement teams review and approve the transaction, but they cannot easily verify the captured value against the supplier's original quotation because the quoted foreign currency amount is not directly available on the requisition printout.

The proposed enhancement would allow users to enter and retain the supplier's quoted foreign currency amount directly, with the system performing any necessary conversions in the background while maintaining visibility of the original quoted value.

This would result in improved accuracy, reduced manual intervention, faster requisition processing, better auditability, and easier reconciliation between supplier quotations, requisitions, purchase orders, and financial records.

Without this enhancement, organizations processing foreign currency transactions will continue to rely on manual currency conversions, increasing the risk of valuation errors, operational inefficiencies, and discrepancies between supplier quotations and system-recorded values.