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Re: Cross currency invoices




If you're looking at the currency code, can you fix my pet bugbear:

* the exchange rate applies to all transactions in that currency that
  day, and the only way to change it is to remove _all_ transactions
  in that currency and repost them.



Although it might simplify things a tad in the obvious cases, I'm not actually sure that this is the way an accountant would do it.

Seems that common practice is to stick the invoice in at a given rate at the point it's effective, then enter in the payment as that's done, then use an FX gain/loss to record the difference

In SL's case I'm slowly figuring out what is happening, and it additionally has a curious way to handle currency conversion in that you appear to have to make £100 GBP = $100 (!). The foreign transaction is in two parts where you do something like $100 = £55 + £44, and the £44 bit gets a tick box against it to show that it's an FX fudge. This way the units sum to 100 on each side, and yet the $100 also = £55.


....Clear as mud?

I know see the theory, but I still haven't quite figured out how SL wants me to put in the transactions to make it work though... Not getting a lot of help on the SL list though...

Regards

Ed W