Exchange rate issues

1

Hi

I have a question for the developers.

AT the present time, my home currency is the hong kong dollar. My question is this:

when I set teh currency to be say for example 1 USD = XXXX HKD, my profit and loss statement goes rreally out of whack.

when I set it to be 1 HKD = ??? USD, then it will be normal.

Does this mean I always have to reset currencies using my base currency and then show the conversion in USD?

Example: 1 USD - 7.8 HKD will destroy my profit and loss as well as balance sheet statements,

But if I do 1 HKD = 0.128205128 USD (essentially the same conversion but in reverse), then my proft and loss and balance sheet statement is ok.

I just found it weird.

ansj64

1 Like
2

Your base currency is HKD, so exchange rates must always start from HKD. Enter rates as 1 HKD = X USD. If you enter 1 USD = 7.8 HKD, the system treats USD as the base and breaks P&L and balance sheet reports. This is expected behavior, not a bug.

3

Hello @ansj64,

That doesn’t sound right.

Could you please share the following information:

  1. Edition and Version number of Manager

  2. A screenshots showing where you set your exchange rates. A separate screenshot for each exchange rate

  3. A screenshot of your profit and loss. Also a separate screenshot for each exchange rate

4

Thanks. I figured as much but wanted confirmation. BUt one would think if it was the other way around, the software would have adjusted accordingly. Logically, since the software can have multiple currencies, it would have been able to check what the acocunt currency is and convert to the base currency whether it is 1 HKD = ? USD or 1 USD = ? HKD. But anyway, that is for the developers to sort out.

Thanks again Charlotte.