Current exchange rate sticks even though date is changed

Hello there, there seems to be a problem with the exchange rate when recording past payments.

Let’s say I record a Purchase on 27 August 2016 in Hungarian Forints. The exchange rate is 362.3330 HUF per GBP. This is all fine.

Then, I try to log a payment afterward for the same day, but when I do that the system displays and uses the current exchange rate, not the one on 27/08/2016. This means that i will have a currency loss or gain in the Creditors Control account although in reality this didn’t occur.

I just spotted this problem now, last time i checked the rates changed as dates were adjusted.

Thanks for your help.


Hi @iqfactory

The bottom screenshot I believe if from the ‘Log Payment’ dialogue from the purchase preview screen. With this, you should see something like the following:

What actually happens here is the exchange rate is calculated based on the GBP value you put in. So in my example above, I could change the date but the GBP value remains the same, and therefore so does the exchange rate.

I hope that helps?

Yes, that’s correct. However what I’d like to do is set the date and tick the ‘Pay in full’ box and have the GBP amount calculated based on the given date’s exchange rate.

I don’t have a GBP value, because HUF funds leave from a HUF account. So the GBP value calculated is exactly what I’d need.

The system used to display the correct rate when the date was set, now it displays and calculates with the current rate. So, if I tick the ‘Pay in full’ box i will have an incorrect GBP value.

Thanks again for your help.

Nothing has changed here, so the exchange rate would always have been calculated based on the GBP value.

I have however logged this for review to see if any improvements could be made. If anything changes, I’ll be sure to let you know here.

I’m sorry to disagree here, but I’ve been using this function for 4 years. Anytime I set the date then ticked the ‘Pay in full’ box the GBP value was calculated based on the given date’s exchange rate.

Also the exchange rate displayed on the screen would change along with the date. This doesn’t happen anymore, regardless of what date is set, today’s date is set and calculated with.

I don’t think it is supposed to work this way, because it makes the ‘pay in full’ box unusable.

Let me give you an example:

  1. I issue an invoice of 10,000 HUF today. Let’s say the exchange rate 360 HUF / GBP

  2. The invoice gets paid in HUF to a HUF account on the same day. (so we don’t have a GBP value)

  3. A day later I open the ‘Log payment’ dialogue to log the payment.

I used to click on yesterday’s date, tick the ‘pay in full’ box and be done with it.

Now, If I do that, I have the GBP value calculated with today’s exchange rate. This is obviously not correct, because the payment came in a day before.

So what I need to do now is MANUALLY calculate the GBP value with yesterday’s exchange rate and MANUALLY put in the GBP value.

I’m pretty sure it was intended to work this way and please believe me when I say that it didn’t used work this way.

Please have a look at this, as this makes recording foreign exchange payments very painful.

Hi @iqfactory

As per my post above, I’ve logged this with our development team to take a closer look. We’ll keep you posted.

Thanks very much. Please let me know if i can be of any help. Peter