hi
i am facing a problem regarding this. actually i recieved a project in EURO 3450 as given below:-
but that day exchange rate of EURO was 70.75 and i received EURO 2547.5 which is equal to INR 180235.6
But manager has shown EURO 2217.12 .
Please solve it.
You should be able to edit the line item and update it with the correct amount.
Then exit out to a different tab, and return, and it should look something like this:
My local currency is Australian Dollars (AUD) but I have to pay a bill monthly in United States Dollars (USD).
Since it got the conversion wrong, I had to edit it and update it to say the amount that my bank recorded in internet banking (AUD 32.67 = USD 25.00) for that transaction.
Currency is constantly fluctuating, so from what I understand we need to always update it to show the correct amount because Manager does not know at what rate we were charged.
In settings, we can set default rates - but again, since it is constantly fluctuating, this would only act as a default and normally I’d expect would still need to edit it once you’ve checked your bank and know how much you were charged (or how much you were paid - in your case).
Under settings, set default:
HI @ShaneAU
Thanks for your prompt reply .
but if we will change currant exchange rate in EXCHANGE RATES tab than other invoice will effected also.
Than??
Since I’ve only purchased items in other currencies (I do not send invoices in other currencies), I haven’t noticed the item in settings affecting my existing records. So I cannot comment on this, sorry.
I am under the assumption that it will only affect new records that are created - someone else may be able to confirm / refute that statement.
Not if you create “new” exchange rate, however you haven’t shown enough information.
Did you create a Sales Invoice for the Euro 3450 ?
If yes, then the exchange rate is applied to that.
Did you receive a part payment being Euro 2527.50 ?
If yes, then you enter in the Receive Money both the Euro and INR amounts.
The variation between the Invoice rate and the Receive rate is then shown in the exchange profit & loss account
thanks