@lubos Can we have an option where the autofill could be captured from Exchange Rates list or entered manually.
we prefer to have the old set up where exchange rate will be captured automatically from Exchange Rates.
Thanks
@lubos Can we have an option where the autofill could be captured from Exchange Rates list or entered manually.
we prefer to have the old set up where exchange rate will be captured automatically from Exchange Rates.
Thanks
I have instructed my staff members not to create any purchase invoices themselves until further notice. They have enough trouble just remembering to enter the correct date and use the correct tax codes, so expecting them to look up and enter historical exchange rates for each purchase invoice is just asking for trouble. Unfortunately that adds to my workload. Entering the Autofill ā Exchange rate
in Settings
doesnāt help much, as theyāve still got to wait for me to do this (which takes me away from other work), our Reserve Bank website with the rates listings isnāt always quick to access, and we often enter invoices from earlier dates, so using the autofill would give an incorrect rate anyway. Iām really hoping that a workable solution is offered soon.
@GrahamvdR Iād suggest continue to enter those purchase invoices even if the exchange rate is not exactly what it should be. I will be adding a report that will allow you to check for exchange rate in date range across all transactions and batch update those exchange rates if desired.
OK, noted, thank you. Itās still an extra step that weāll have to remember to do, but Iāll wait until it is implemented and Iāve tried it out before complaining too much!
I know this is work in progress, so I hope this post isnāt premature, but Iāve noticed some behaviour that was unexpected to me.
If I view the exchange rates in Settings
, I can see to the right of each rate a count of transactions:
My assumption was that these are counts of transactions using the respective rates. However, drilling down on those numbers reveals that the transactions may not actually be using those rates ā they are simply transactions done on that date. Notice, for example, that the USD rate for yesterday, 19/07/2023, was 4,771.3854. But if I drill down on the 6 to view the transactions, I can see that they used the rate from the previous day:
I couldnāt access our Reserve Bank site yesterday to input the rates then, so I have just done it now. So, I understand why the older rate was used, but it seems misleading to have those transactions tallied against a rate that they didnāt use.
Has this been implemented yet? At this stage itās not going to be a huge amount of work to fix our rates manually, but the number of transactions with incorrect rates is growing every day, so our need for a way to check and batch update will become more and more pressing.
@GrahamvdR the Transactions
column shows transactions that are in the scope of that exchange rate. In the latest version, when you drill-down to Transactions
column, you can now batch update all exchange rates. No need to be updating exchange rates on transactions one by one.
Thank you @lubos. I like it. I also like the Autofill option in the transaction forms.
Are you planning to implement some kind of report to check all exchange rates at once without having to drill down on the daily Transactions
count?
I would like to thank you for this
Capturing the exchange rate at the transaction level is a big step forward, but this is still way more complicated than it needs to be for people like me who just need to pay a few invoices each month that happen to be in USD. My bank works out the correct exchange rate when I pay the invoice, so Iām not making any kind of foreign exchange gain or lossāIām paying exactly the correct amount in AUD each time. And yet Manager still insists that I manually tell it the ever fluctuating exchange rate every single time.
At least I can do that on the invoice itself now, instead of having to drill down into āSettings > Currencies > Exchange Ratesā every single time. Thatās an improvement. But I still have to do the maths myself to work out what exchange rate my bank used and enter that manually into the exchange rate field. Thatās madness. Make the app do it. Itās a computer program, itās good at that stuff. All it needs is one little checkbox on the payment screen to do the calculation automatically. (I requested something like this 8 years ago.)
PS: It would also be great if the payment screen would put the invoiced amount in the USD āCurrency amountā field and not in the AUD āAmountā fieldāanother thing I have to manually fix on every payment.
It would be nice to have another column to show count of exceptions to the exchange rates.
Also, being able to update transactions of multiple currencies at multiple dates would be a time saver.
If we could do have these, two things, the new workflow would be bulletproof in terms of complying with tax exchange rate regulations.