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FP6 Financial Info & FAQs --> Project --> Cost Statements --> Cost Statement FAQs


Please explain which conversion rate should I take as date of incurred actual cost? I am spending money in polish zlotys and the cost is connected to different dates during 2006 year. What does it mean "date of incurred actual cost"?


There are two ways of reporting where the contractor is resident in a non-Euro country:


Exchange rate for all costs at rate on first day following period end (using official EU Central bank rate - http://www.ecb.int/stats/exchange/eurofxref/html/index.en.html)

The official EU Central bank rate of exchange on the day of the transaction - normally invoice date (but where invoice is issued a considerable time after commodity or service provided the date of documentary evidence of supply of commodity or service – but in all cases date in books of account), date of paying salaries etc, but only if accounting records are kept in dual currencies (local currency and EU value per transaction on books of account).

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