DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Problem with currency gains (losses)


#1

I have started using multi currency few months back. It have been working well till now with currency gain (losses) displaying a small amount of few cents. Because the exchange rate was consistent during this period. My base currency is AED and I have a supplier whose currency is AUD. I had an outstanding invoice of June and during that time exchange rate was 1 AED = 0.28819 AUD, this payment I made recently when the exchange rate was 1 AED = 0.30719. When I make this entry the currency gains and losses shows up -1930. What I don’t understand here is why am I getting this loss it should have been a currency gain for me? Please could you guide me for this issue. Or is there some mistake I did.


#2

How does Manager know 1 AED was 0.28819 AUD at the time of entering purchase invoice? Have you entered this exchange rate under Exchange Rates module in Settings?

See: http://www.manager.io/guides/multi-currency/updating-exchange-rates/


#3

Yes I do enter exchange rates of the day before entering the invoice or making the payment.


#4

Send your accounting file to support@manager.io to see what’s going on.


#5

I did send my file to support@manager.io yesterday. Please have a look and let me know.


#6

You were right, it should have been currency gain. Anyway, I have discovered what was causing it and if you upgrade to the latest version (15.0.19), your figures will be correct.