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Re: Cross currency invoices
- Subject: Re: Cross currency invoices
- From: Ed W <..hidden..>
- Date: Wed, 24 Jan 2007 18:43:57 +0000
Chris Travers wrote:
I have been thinking about this and I am not sure how far you have gotten.
You can define up to three currencies for use in LedgerSMB 1.1 (no
limit in 1.2). When you enter an invoice you will have the option to
add or change the foreign exchange rate. this will automatically post
to the fx accounts.
I guess it would be useful to understand the expected transactions in
standard SL terms (or even Sage terms...)
I guess the transactions will be something like:
- Post transaction at $x, translated into £y at Time=1
- Pay the invoice at T=2 when the rate has say doubled. Now the payment
will consist of a movement of the original $X to pay the invoice +
another $x which moves into the currency control account
- The 2x $x have to have come from somewhere so we have to pay our
currency exchange (bank). Invoice?
I guess I'm kind of lost by this point and not really sure how to
proceed. The live system is still running SL (not LMB) to be fair...