Incorrect Currency Gains/Losses Due to Exchange Rates Used

1

Whenever I receive an invoice it’s paid immediately. Whenever I issue a sales invoice it’s always paid into the same currency account, e.g. a EUR invoice is paid into our EUR bank account and a GBP invoice is paid into our GBP account. Therefore you’d expect no currency gains or losses.

However we do have currency gains/losses and I can’t figure out where they’re coming from because I can’t click on them from the Currency gains (losses) journal. How can I figure out where I’m going wrong with this?

The only other discrepancy I can think of is the difference in the exchange rate I’ve input into the system, and the exchange rate used in transactions. All I’m doing is looking at www.oanda.com and using the exchange rate for a particular day and putting that into Settings>Exchange Rate. Is there a way I can be more accurate with this e.g. specifying the exchange rate at transaction level, because it’s not really currency gains but a difference in exchange rates used.

Thanks

2

I think, after i reviewed the issue on mine, that every time you are setting a new rate the old transactions (received or paid) are getting changed respectively. It would be a good addition, to have the rate work only on transactions made after it was set. I don’t know if its the case or not.

3

Can’t give you specific response but I’m going to make a lot of improvements to Currency gains (losses) journal where you will be able to click on each transaction and get detailed report how that amount has been calculated and what has contributed to it. This is sort of lacking.

4

If you could make each transaction clickable that would be perfect for tracking down the problem for me to fix it.

Following on from what asal says I also notice that the currency gain/loss for any given period keeps changing too.