Has the way to do Exchange Rates changed in the last couple of months

1

A few months back, I created a supplier that charges me in US Dollars. I then created the exchange rate at the time in the Exchange Rate tab in Manager. I created an invoice and put in the US Dollar Amount. I then paid the invoice and as far as I can recall, in the payment section put in the US Dollar Amount from the invoice and it automatically filled the £ Sterling Amount with the exchange rate.

Its not doing this now. When I select payment its putting the Dollar Amount in the local currency field and there is nothing in the foreign currency field! So I have to delete the foreign currency amount in the local currency field and put the correct amount in. So I am effectively not using the exchange rate module for this transaction.

I just ended up putting in the amount showing on my bank statement. Not sure what is going on here! It was working for me before.

2

When you do these multi-currency transactions, you need to specify amount in both currencies.

Exchange rates module under Settings is used to calculate exchange gains/losses over period of time.

3

Very strange, because I could have sworn the last time that I did it, it calculated the amount the exchange rate converted to. Oh well, maybe I didn’t

I am not sure that I understand what the exchange rates module is supposed to accomplish as most businesses like myself when paying a bill in foreign currency would simply convert the exchange rate on the day the bill is paid and that would be my invoice cost therefore there would be no gain or loss over time!

Anyway, at least I understand what I did wrong there.