Updating exchange rates retrospectively

1

We have the following scenario:

  1. Create a transaction (say a sales invoice) on Sep 15 in EUR (main currency is GBP)
  2. On Oct 1, we update the exchange rate globally (Settings > Foreign currency) for the period of Sep 1 to Sep 31
  3. We notice that the sales invoice is stuck on the former exchange rate
  4. We have lots of invoices so we try to update them in batch, removing the exchange rate, expecting it to be recalculated (the exchange rate shows “Autofill” in edit mode)
  5. Now we have a huge FX gain / loss ; looking into the details of how the FX gains / losses are calculated, we see that our sales invoices are recorded with a transaction exchange rate of EUR 1 = GBP 1, instead of the proper rate.

Questions:

  1. Is there a way to fix this short of updating manually the exchange on all credit notes, sales invoices, purchase invoices and receipts?
  2. What would be the recommended course of action, instead of the one we’ve taken?
2

See: https://www.manager.io/guides/currencies

and as exchange rates are concerned: https://www.manager.io/guides/exchange-rates

3

Thank you. I’m aware of these, in fact we created the exchange rates as described in the guide.

4

What edition and version of Manager are you using? There have been lots of changes in 2024.

5

It’s the cloud edition, version 24.10.21.1896.

6

Any chance we can get help on this? We have thousands of invoice with currency handling inconsistent with the UI.

7

So there’s a bulk update button on the exchange rate transactions page that can fix all exchange rates for a given currency and time period. That solves it.