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Exchange rate value per transaction

David Lewis

February 08, 2012 12:36

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I'm using Accounted in UK, but carry out transactions in EUROs and DOLLARs as well as POUNDs. I'm entering historical data and have the following options set in Company | Currencies:

Enable Currencies - checked

Symbols, Exchange Rate and Tag for the 3 currencies above

Save Exchange Rates on Per-Item-Basis - checked

 

For items that are quite a while ago, the exchange rate recorded with the transaction is wrong, I'd like to change it to match reality. How can I do that?

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4 comments

• 0
  
  Oranged Support February 09, 2012 05:15

  That setting will take a snapshot of the current exchange rate when it the item is created as to preserve historical data. Currently you cannot manually edit the exchange rate for items directly in Studiometry or Accounted.

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  David Lewis February 09, 2012 07:53

  Thanks for your reply.

  I found that by changing the Company Currency Setting to the correct value for a given transaction and then editing that transaction, I could change the exchange rate for that transaction (without affecting the ex rate for other txns) - not an elegant solution, however, a good enough work around for my purposes.

  The facility to edit the per-item exchange rate would be useful if you are able to implement that in the future.

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  Pezziam March 31, 2012 19:19

  I am encountering a couple of errors with non-default currencies (i.e. Default currency USD, secondary currency EUR) when working manually with the exchange rates:

  1. I created a transaction in EUR (on an EUR account) and it pulls the manual exchange rate from “Company Settings”.  If I open the same transaction 10 days later to update it (i.e. notes, accounts, images, etc), then Accounted grabs the current exchange rate from “Company Settings” and updates the currency for the transactions without warning.  This is causing a big mess on my accounts.
  2. I created a transaction in EUR (on a USD or “Non Specified” account).  Accounted pulled the exchange rate from “Company Settings”.  Again, if I open the same transaction 10 days later to update it, then Accounted changes the currency of the transaction to USD automatically.  You would then need to make sure the correct exchange rate is in “Company Settings” and change the currency to EUR again.  Problematic.

  I have confirmed this behavior using “Manual” exchange rates, I cannot confirm if the same thing happens with the other two options.

  Apart from correcting these two errors, can we also get an option to manually override the exchange rate on the transaction itself?

  Thanks,

  Miguel

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  Oranged Support March 31, 2012 21:28

  Do you have the setting enabled in the company settings section to "Save Exchange Rates on per-item Basis"? This should be turned on to ensure exchange rates do not update for older items.