Rouding errors - Invoice total in local currency (fx) different from PnL summed itemised items (fx)

[Mike011]

I run a Ltd company in the UK and my customers are in Europe, hence in EUR.

In a given invoice, I have 3 items, all in euros and total GBP is shown.
In the PnL, in my Sales account, the 3 items are summed up which results in a rounding error of the total GBP value.

I want the value in the PnL to pick the total value in GBP from the invoice instead, to « in invoice » vs « in pnl » rounding errors and have no discrepancies between my accountant’s data and mine.

Is this a bug? It looks like one to me.

[eko]

Please provide more details and illustrate with screenshots. Also tell us which Edition (Cloud, Server, Desktop), Operating System (Windows, Linux, IOS), and if not Cloud Edition which Manager version you are using.

There is definitely something you do wrong because when doing it right the total of the Invoice would display in Euro and not GBP. Make sure that you have at least the following:

1. Base currency (GBP), Foreign currencies (EURO) and exchange rates created under Settings → Currencies.
2. You need to assign the specific Suppliers and Customers that trade in Euro to the Euro.
3. The Invoices need to select the Euro bank account and the Euro Supplier/Customer.

Note that the automated Forex (Gains/Losses) deal with the consequences of the exchange rates you set. Consult the guides for more details including the older ones at the www2 (yellow link in guides).

[Joe91]

You don’t need a Euro bank account unless you have one

Your customers can pay euros into your GBP bank account - their euro payment will be converted to GBP

[eko]

@Joe91

You don’t need a Euro bank account unless you have one

That is correct. I removed the point.

[eko]

How a typical Customer, Sales Invoice Edit and View screens would like if points 1, 2 and 3 are implemented are as below. Note that the total is not in the base currency USD($) of this test business.

1. Customer edit screen with Euro currency assigned.
   
   

2 Sales Invoice Edit screen with Euro Customer selected

3. Sales Invoice View screen showing total in EUR

[Mike011]

Using PC desktop version. One of the latest, not sure which one though.
Settings are already all done as per your description, thanks!

In screenshot 2 - sales invoice, you’ve got « show total in local currency » (bottom left checkbox). That one will produce the GBP value of the total and show it in invoice in bottom left (legal requirement in uk).

Then once in your PnL, the total value is calculated from each of the 3 items in the invoice, from foreign currency, fxed for each item, and shown in local currency. Then summed up.

The total value in local currency vs the one in the PnL will be different due to rounding errors. This is likely because the calculations are done differently (total then fx vs itemised, fx, then total).

Will give more details once on PC

[eko]

@Mike011

One of the latest, not sure which one though.

At the very bottom of each screen is the version number you use. You can check it against https://www.manager.io/download or https://github.com/Manager-io/Manager and then update it to that version before posting.

The GBP value shown is based on the Exchange rate you posted. You need to be sure that your accountant uses the same rate that you entered into Manager.