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Re: Exchange Rates




 

----------------eredeti üzenet-----------------
Feladó: "Erik Huelsmann" <..hidden..>
Címzett: ..hidden..
Dátum: Sun, 12 Jul 2015 23:35:21 +0200
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Yea. I'm running into the issue myself that the CC company, the bank and PayPal each have their own idea about today's rate.
 

Hi,

Just a note.

I assume, every country have rules, how to work with exchange rates in a standard way.

I think the general idea is and could be:

The system uses a declared exchange rate as basis, and this must be consistent. Let's say I choose the exchange rate from our Central Bank and I keep all my transactions in the book with this exchange rate. So, every transaction will use this exchange rate (AR/AP).

If the exchange rate of the bank/paypal/wire guys will be different (and it will be different), the differences must go to the exchange rate gain or loss accounts.

 

Cheers,

István

 

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