# Why am I getting a currency (gain) loss?
**URL:** https://forum.manager.io/t/why-am-i-getting-a-currency-gain-loss/3034
**Category:** Uncategorized
**Created:** [June 7, 2015, 7:27pm UTC](https://forum.manager.io/t/why-am-i-getting-a-currency-gain-loss/3034 "2015-06-07T19:27:11Z")
**Posts on this page:** 5
**Page:** 1
### Author:  [@dalacor](https://forum.manager.io/u/dalacor)
#### Post date: [June 7, 2015, 7:27pm UTC](https://forum.manager.io/t/why-am-i-getting-a-currency-gain-loss/3034/1 "2015-06-07T19:27:11Z")
I paid one invoice that is invoiced in US Dollars, so I thought that I would have that supplier default to US Dollars. I put the invoice in for the Dollar amount and on the spend money I paid the British Pound Sterling amount. All seemed to work well as invoice is marked as paid.
However, I noticed that I have an £85.42 loss in currency gains, which is not possible over the space of 1 week. The exchange rate has not altered that much.
I wonder if this is because I did not put in a currency exchange rate in settings? All I did was put the dollar amount on the invoice and the pound amount on spend money.
However, what puzzles me is what use in accounting this gain/loss is. I don’t think that I can claim it as an expense as I have not lost any money - that is just what the exchange rate was on that particular day. Not withstanding the fact that the amount is obviously wrong.
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### Author:  [@dalacor](https://forum.manager.io/u/dalacor)
#### Post date: [June 7, 2015, 7:39pm UTC](https://forum.manager.io/t/why-am-i-getting-a-currency-gain-loss/3034/2 "2015-06-07T19:39:08Z")
Now that I look at it, the amount that I paid is £897.57 but according to the expense account, its showing an amount of £812.15. The difference between the two amounts is still not £84.42. I am obviously doing something wrong!
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### Author:  [@lubos](https://forum.manager.io/u/lubos)
#### Post date: [June 10, 2015, 3:23pm UTC](https://forum.manager.io/t/why-am-i-getting-a-currency-gain-loss/3034/3 "2015-06-10T15:23:10Z")
The reason is that you didn’t enter any currency exchange rates under `Settings` tab.
Manager has hard-coded exchange rates just to give you at least something even if no exchange rates have been entered.
Enter exchange rates under `Settings` tab as at when the USD invoice was issued. Then look at the calculations again. You will see a lot lower loss/gain.
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### Author:  [@dalacor](https://forum.manager.io/u/dalacor)
#### Post date: [June 10, 2015, 5:28pm UTC](https://forum.manager.io/t/why-am-i-getting-a-currency-gain-loss/3034/4 "2015-06-10T17:28:15Z")
I have added the exchange rate and backdated the date to before the payment. The currency gain/loss is now at zero and the amount in the expense account is now correct. I did not realise that I had to set the exchange rate as I manually put the amounts in. Its working now. I will remember that.
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### Author:  [@Ealfardan](https://forum.manager.io/u/Ealfardan)
#### Post date: [January 18, 2023, 3:37pm UTC](https://forum.manager.io/t/why-am-i-getting-a-currency-gain-loss/3034/5 "2023-01-18T15:37:49Z")