Re: FX: prices agreed in one currency, customer pays in another?

Hi Rob,

Thanks for your answer! Comments inline.

On Sun, Nov 8, 2015 at 4:35 AM, R. Ransbottom <..hidden..> wrote:

On Sat, Nov 07, 2015 at 01:43:19PM +0100, Erik Huelsmann wrote:

> ... we agreed on a price in USD, but the customer [ pays ]
> in a different currency
> ... we also settled on a source for the exchange rates ...

> I've agreed to the *payments* happening ...
> month to month ...

> I'm adding a note to ... the invoice about the amount and
> currency to be paid.

It doesn't seem that odd. Here it is as likely to be a
half-barter deal; one party's goods tied to some market's price.
Of course, there are businesses that live on such transactions.
Currently, LSMB is a poor choice for them.

"note .. about amount and _currency_"

makes me think you might be billing in USD. That is the worst choice
of the three. Since you have the XF info in time you should bill
the agreed currency at the special derived rate and just side-note
the USD amount[s].

Hmm. "the agreed currency" is ambiguous here :-) there are two agreed currencies: the prices in USD, the payment in the other currency. But I get your point.

I am not sure what you see lacking in this transaction, so I am not
sure how to help further.

To explain a bit further: I don't see anything lacking in what you describe, other than that I don't think LedgerSMB supports this workflow (I need to re-enter the entire invoice from scratch every month, even though it's the same amount in the original currency).

Ease, detail, timeliness of record, clarity
and reviewability don't all cooperate--chose three or four.

Do I understand correctly that you too think LedgerSMB wasn't made for this workflow?

I'm still wondering if I'm the only one running into this type of problem.

Bye,

Erik.

http://efficito.com -- Hosted accounting and ERP.

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