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Calculating exchange rate from currency values?


#1

I think this could be a quick(-ish) fix / feature. When I enter a purchase in a foreign currency, the exchange rate is what QF allows me to change to alter the sterling currency amount:


Is it possible to make both exchange rate and GBP amount entry boxes and calculate one from the other?

Typically I’ll know the GBP amount rather than the actual exchange rate for a foreign currency (e.g. from the entry in my bank account). Making one calculate from a text entry in the other would keep the current functionality, while making it possible to work the other way round as well. The system could of course continue to auto-fill with the day’s exchange rate and calculated GBP equivalent.

At present I have to find a calculator, or go through a process of trial and error entering different FX rates to get the desired GBP value.


#2

Hi @mlawson

Thank you for your suggestion. I’ll certainly pass your comments onto our development team and let you know if anything changes here.


#3

Any way I can ‘bump’ this request, or can advertise it to others using multi-currency? I’d dearly love it to get some dev attention - or for someone to explain to me a way to do this without firing up a calculator.


#4

Hi @mlawson

All I can suggest at the moment is to watch this space. I have however passed your feedback on and will let you know if anything changes here.


#5

Whereabouts in the interface is this? I regularly enter cross-currency purchase payments using the “log payment” button at the top of a purchase invoice and that lets me enter both the foreign currency and GBP amounts and calculates the exchange rate accordingly.


#6

Yes, absolutely I do too - useful functionality. The example above is in entering receipts from the Receipt Hub - could do with the same functionality there. I should have been clearer in my original post!


#7

Thanks so much for implementing this - just entered a USD receipt and created my PO in GBP (as the payment), didn’t have to get out my calculator, or use trial and error.

Excellent, many thanks.


#8

Hi @mlawson

Looks like the dev team sneaked this one past me :wink:

But glad you’ve found it useful!


#9

I have been unaware of this facility (implementation - only available from Receipt Hub) as the majority of receipts that I have been entering have been created from Bank Tagging.

The same two fields; either to choose whether to enter the exchange rate or the sterling value would seem beneficial to have available on the Purchase Invoice as well as from the Receipt Hub.

My previous post Credit Control Account discrepancy - Foreign Currency from this September went into some detail of a penny discrepancy.

After reading this article looks like there is way around, but as mentioned that same facility would work as a useful addition to Purchase Invoices.