[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Re: Cross currency invoices

Ed W <..hidden..> writes:

>> 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

SL already does this, which is what you'd expect: you get a slew of
transfers for foreign currency stuff between various accounts, but that
bit Just Works.

> 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...

It's pretty horrible...

cheers, Rich.

> Regards
> Ed W
> -------------------------------------------------------------------------
> Take Surveys. Earn Cash. Influence the Future of IT
> Join SourceForge.net's Techsay panel and you'll get the chance to share your
> opinions on IT & business topics through brief surveys - and earn cash
> http://www.techsay.com/default.php?page=join.php&p=sourceforge&CID=DEVDEV

rich walker         |  Shadow Robot Company | ..hidden..
technical director     251 Liverpool Road   |
need a Hand?           London  N1 1LX       | +UK 20 7700 2487