Hello
lets say I have two cash accounts, base currency A having 100A, foreign currency B with zero balance. summary shows 100A in cash accounts
Now i do two inter account transfers:
100A → 200B
200B → 110A
What happened inside the program now? how does it calculate internally? because in the (Bank and Cash Accounts) I have 110A and in summary tab i have 100A … I expected to see 110A in summary with 10A suspense
You should have A 110.00 and B 0.00 in the end, and a credit entry in profit or loss.
If all things (exchange rates) are set right. The first transaction should be
No problems or recognition of gains or losses because the assumption is that 1 A = 2 B is the starting exchange rate
I was expecting to see a foreign exchange loss in the second transaction because the foreign currency has gained strength against the base currency (because you need a lesser amount now to get 100 F) leading to the appreciation of the base currency balance from 100 to 110 when the 200 F was returned. I was expecting a credit entry in the profit or loss to explain the now 110 balance after the return.
I don’t believe Manager is meant to behave this way unless I’m making wrong assumptions or missing some steps.
I’m putting this under bugs for now.
The manager summary report seemed logical to me.
Unless we do not want a negative bank balance, we need to move the value of the bank balance to another account such as a suspend account or an account with another name on the Asset side.
Or maybe we want to close the bank account, we will need to adjust the bank balance to the Forex Gain/Loss account
We actively use two currencies at our company… we have two safes (for cash) each holding a different currency that we actively exchange from one to another… we also have multiple bank accounts that involve 3 currencies.
The situation that i posted would cause major issues to us since money disappears from the summary tab. I need them to affect foreign exchange losses/earnings
Why would they disappear? If you setup the appropriate control accounts for each cash or bank account they will appear in Summary. The Summary as it should be will always post in Base Currency so any FOREX Gains/Losses show where appropriate.
Can you elaborate on (setup the appropriate control accounts) with an example? I don’t understand what to do
See Add custom control accounts | Manager old but more elaborate and clear and new Manager.io
