When paying internationally I select the international currency via the bank, say paying 100,000 Yen. Then the bank says the exchange rate is 96.28 Yen per dollar, and on the statement says $1038.64.
However, putting these numbers into manager will obviously not balance the the invoice as 96.28*$1038.64 = 100,000.26 Yen.
What I’ve been doing to alleviate this is simply divide the two currencies to work out a new conversion factor with more significant figures to make the two fit i.e. 100,000/1038.64 = 96.279750, which gives me enough precision for it to round to the correct amount.
Is this the correct method of dealing with these issues?
Or do I add another item called ‘forex rounding’ or something?