Exchange rate on foreign purchase invoice showing as 1

I’m trying to create purchase invoices in foreign currencies and I can’t get the exchange rate to show up correctly - it always shows up as exactly 1 after saving the invoice!

Say I create a purchase in USD, for $10. I set the date of the purchase as the Receipt Date which gets the exchange rate for that day (which seems correct). I itemise the receipt and allocate it to the correct ledger account.

This was paid by debit card, so I create a payment from the Current Account for the amount taken. Let’s say £8.50. This is slightly different to the calculated amount due to bank fees, which is fine. The payment shows up in the current account the day after the Receipt Date, so I enter this as the Payment Date.

I now save the purchase invoice, which then shows up as fully paid. The problem is that if I open the invoice now, the exchange rate is shown as exactly 1. The Current Account shows the £8.50 payment, but the purchase in the ledger account shows the purchase as 10.00 GBP (note NOT USD) debit. This therefore then shows a £1.50 Currency Variation on the invoice, which is also shown in account 7902 Currency Charges.

I understand the concept of currency fluctuations between invoice and payment, but this is something else. No matter what currency the purchase invoice is in, it always ends up with an exchange rate of exactly 1.

I’m finding QuickFile great generally and I don’t understand what I’m doing wrong here! Any help would be appreciated.

Hi @zelanix

Can you confirm the invoice number and the last 3 digits of your QuickFile account number please, and we’ll take a quick look?

@QFMathew, thank you for your reply.

If you could take a look at #QF00017 and #QF00015, on account ending 818 would be great.

I’ve taken a quick look, but everything you’ve entered seems correct. I’ve asked a colleague to take a look; we’ll update you shortly.

Thank you @QFMathew, good to know that it looks ok to you! I look forward to hearing back from you. I also just tried this in a different account and I’m seeing the same behaviour there.

@zelanix my apologies, we have had a problem extracting the rates for purchase invoices due to a recent update. This has now been rolled back so it should now work as expected.

@Glenn, thank you for looking into this, it is now working as expected. I had to modify each purchase and ‘change’ the data (to the same date) to reset the exchange rate and delete and recreate all payments, but I didn’t have too many so it wasn’t too bad. Thank you again!

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