Foreign currencies & exchange rate confusion

1

Hi all, I have been trying to figure out the logic of foreign exchange rates in Manager and search for similar questions in the forum for a while but haven’t found the answer yet. I’m using Manager Windows desktop version 23.7.13.877. The base currency is HKD. I issue sales invoices customers in EUR or CHF, and I receive purchase invoices mostly in USD. The current financial year is 2022/4/1~2023/3/31

In Manager there are multiple places where I can set the exchange rates but I don’t understand the logics behind in order to have correct expectations how it will affect the account balances.

  1. firstly I can define the base currency as HKD, this is clear:

  2. then I can define the foreign currencies like USD . here comes the questions: what does it mean “Starting exchange rate” and “Autofill — Exchange rate”.

  3. I can also set the exchange rate in “Exchange Rates” with a specified date for each currency like USD below. So how will this affect Manager’s calculation?

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  4. When I add a sales invoice in EUR, for example this one of EUR440, Manager doesn’t show the exchange rate to HKD or askes me to input an exchage rate. I’m not sure which rate Manager uses

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  5. When I add a purchase invoice in USD, unlike sales invoice where there is no exchange rate engaged, now Manager askes to input an exchange rate to HKD

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overall, the behavior involving foreign curencies and exchange rate in Manager is very confusing and I would appreciate some more detailed guidance. Thanks a lot

3

Upgrade to the latest version. There will be ability to enter exchange rate on sales invoice level too.

Also, multi-currency implementation is going through some changes at the moment. It’s not finalized yet but the latest version should be cleaner.

4

Hi Lubos, thank you for your response. I have upgraded to the latest version.

Any idea when we can expect the finalized multi-currency implementation?

5

Should be next week.

6

Hey Lubos. I have updated my Manager (macOS) to the latest version (23.8.24.1000) but am unable to enter the exchange rate on the sales (and purchase) invoice level. Does the Manager have the same functionality on both Windows and Mac? If yes, how do I turn this function on? Thank you in advance.

7

@Riyad read the message above

So it does not exist yet! There is no difference between Mac, Windows and Linux

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