I have been using Manger for the last few months but am facing this issue and I can’t figure a way around it.
I do multiple currency exchange during the same day, whenever I need to convert between USD and TRY.
I do pay in TRY and the exchange rate is different each time I do the transaction and I can’t find a way to link a specific transaction to a date and a time so If I do an exchange at 29.10.2020 08:00 and paid invoices, then I for example needed to do another exchange at 15:00 and did another few invoices, Manger will only consider my last updated currency exchange rate, which will create a difference in my actual balance.
I hope I have explained it, if any other explanations is needed please let me know.
Can you explain what transaction you enter and show a screen copy of the edit form?
It is not clear if you are talking about an inter account transfer, a customer receipt, a supplier payment
There is actually a sound logic behind how Manager deals with multi currency. Exchange rates fluctuate all the time. If one receives currency x it uses the exchange rate to establish currenc y. If an hour later a new transaction is recorded with the same mount in currency x a modified exchange rate could be applied resulting in a different amount y. This could result in currency losses and gains shown in Manager. The thinking is that the current value of the item is expressed in currency y. Assume selling back to currency x it would take the exchange rate of that time.
The question is - why ?
The exchange rates should be an average rate for a period of time, not per specific transactions.
You don’t need to set rates for payments, inter account transfers etc as both currencies are entered.
Actually depends on the type of business. We do several intl transfers per day and exchange rates fluctuate. As persons need to repay eventually in original currency no one wants to incur unnecessary exchange rate losses, however minimal they may seem. As such the question is valid to know how several rates in a day could apply, just to be sure no-one loses out.