On 8/1/07, Ed W <..hidden..> wrote:
> When you have this written up, I'd be glad to see it, because it doesn't seem
> like the way I've been dealing with this is quite correct (using the same
> exchange rate that was used on the invoice for the payment / even thought
> that was not reality).
>
The account'sie way to handle FX is to have a single rate per day and do
all invoices at that rate. Any transactions which are done at a
different rate get the difference chucked into an FX gain/loss account.
The system still needs a lot of work, for example, to allow for correction of incorrect exchange rates.