DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Multi-currency and automatic rate


#1

I have a question regarding exchanges rates. I understood on your introduction of June 10th about multi-currency, that the exchange rates will be automatically updated by the system.

I would like to know if the feature is implemented, and how and where does that feature get the exchange rates? Is it updated daily? Can we see the exchange rates in the system?


#2

We use the multi-currency features of Manager on an almost daily basis. We have not yet seen the implementation of the automatic downloading of exchange rates. We enter exchange rates on a daily basis for the currencies in which we do business by using the Settings -> Exchange Rates feature.

Currency exchange rates are available from a number of sites on the internet. We use www.xe.com Tools, Historical Rates. This gives the mid market rate for each currency against your base currency at 17:00 UTC for prior days and current rates for the current day. This gives a consistent base from which to calculate our currency gains and losses for individual transactions using custom exchange rates.

Hope this helps


#3

Download of exchange rates from the Internet hasn’t been implemented yet, exchange rates should be entered manually as per http://www.manager.io/guides/multi-currency/updating-exchange-rates/

I will implement automatic download of exchange rates once there is more demand for it. I assumed it’s something people will definitely want but it turned out it’s not such a big deal (unlike other features I’m working on). I suspect it’s because Manager doesn’t need to know exchange rates at the time of recording transactions. Rates can be entered retrospectively and Manager will recalculate exchange gains (losses).


#4

I’d appreciate a lot automatic download of exchange rates. Or at least in the meantime a way to import them in bulk.