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Re: Currency payment issue




The system still needs a lot of work, for example, to allow for correction of incorrect exchange rates.


Actually, I just have a script which pulls the rates from XE.com every morning. Breaks every year or so, but other than that it's fine

The correct "accounting" way to handle deviations from the xe.com rates is to post the difference in fx gain/loss

I think that the only thing really needed is a template page to assist in entering all the correct parts of the fx transaction so that one doesn't need to calculate all the little bits manually (on a calculator) first.

I will post my complete ledger entries next week, but it's fairly straightforward once you get the hang of it. (I also think it's quite correct as is)

Ed W