Invoices and payments with multiple currencies
Derek Atkins
warlord at MIT.EDU
Thu Mar 13 16:36:53 CST 2003
Doug Rinckes <doug1001 at redclock.net> writes:
> (Using gnucash 1.8.2, RH8.0 rpm)
>
> When processing invoices and payments, currencies do not seem to be
> converting.
I'm not surprised.
> I have a customer, who is configured to use USD. I created an invoice
> for a total of 100 (I understand that it inherits the currency from
> the customer setting?)
That is correct -- the invoice currency is the customer currency.
> When this is posted, the currency setting on both the "Accounts
> Receivable" account and the income account is ignored. The amount is
> not converted but a value of 100 is added, ignoring the difference in
> the currency values. NB: A USD<>GBP rate is defined, and it isn't 1.
> ;-)
I'm not surprised.
I never finished dealing with multiple currencies from the business
features. I didn't need it myself, and I never really tested it. So,
yea, while it will happily "USE" muliple currencies, it does not
actually deal with exchange rates while posting to accounts of
different commodities.
> The same thing happens when the payment is processed - the currency
> settings are ignored.
Yep, same code... Same problem :)
> Is this working as designed? If so, is anyone else using gnucash to track
> invoices etc in multiple currencies and how have you set things up?
"designed"? Well, I never really tried to implement a
multiple-currency invoicing system. Note that not only are you going
to have exchange-rate problems into the A/R account, but you'll also
have them into the various income accounts.
The quick workaround is to have multiple Income and A/R accounts,
one for each currency.
Please feel free to file an RFE on this, but I don't know when I'll
get the chance to work on this.
> Another, slightly related question regards Finance::Quote. Is gnucash
> supposed to use this to automatically get currency rates? Is there
> something I have to do to enable this? (My system has a broadband
> connection so is always connected, and a small Finance::Quote test
> program works OK.)
No, it does not use it to get currency quotes, and I dont think there
is any way to set up gnucash to do so.
> Cheers
>
> Doug Rinckes
-derek
--
Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
Member, MIT Student Information Processing Board (SIPB)
URL: http://web.mit.edu/warlord/ PP-ASEL-IA N1NWH
warlord at MIT.EDU PGP key available
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