My base currency is BHD and all my items sale price are entered in BHD.
I have set a fixed exchange rate (Manager settings) of 1 BHD = 2.65 USD.
Foreign customers have USD as their set currency.
Problem:
When I Quote or Invoice a foreign customer, Manager changes the document currency only, and it does not update/calculate the item value against the set exchange rate, so i have to always manually change which could be mistaken.
Can the item sales value be automatically updated with the exchange rate set if customer set currency is foreign? or am i supposed to do something else in order for this to happen?
No. There is no way to do that. The sales price set for an inventory item is really just a shortcut for entering data. The program does not know what currency that is in. It is just a number and must be adjusted if the customer currency is different from the one in which the sales price was originally set. However, if you only sell an item to USD-denominated customers, there is no reason you cannot define the item in USD.
There is also no reason for the program to automatically suppose that a price for a foreign customer should necessarily change when an exchange rate is changed. Nor is there reason to assume that all foreign customers’ prices would change in the same way just because they are denominated in the same currency. Prices can be determined by contract terms that do not include varying exchange rates. Or you may charge different foreign customers different prices because of different levels of difficulty exporting to different countries.
In summary, the price you charge any given customer is totally under your control on every sales invoice. It is not determined by other actions elsewhere in the program.
When the Inventory Item’s “Sales Price” field is used - have the option to nominate a “Sales Price” currency. when Base Currency is activated.
Therefore, when there is a mismatch between the Inventory Item’s Sale Price currency and the Customer’s currency, the Sales Invoice would be filled / calculated at the Customer’s currency. As with any Sales Invoice, it is always subject to review and can be edited to suit particular circumstances before being created.
I think @Brucanna idea solves the concern above and it will be a great feature for the system to update the price according to the customer set currency with an option to change if needed, because if the user set the customer base currency to foreign, it means that the customer set currency it is the one mostly used.