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Four decimal place exchange rate


Another look at “Creditor Control Account discrepancy - Foreign Currency”

I had a go at entering a purchase from the Receipt Hub for an invoice in Euros, but although I entered the amount in Sterling that the purchase cleared the bank account this was ignored/over-written and the four decimal place exchange rate was used (so out by a penny).

There is ceiling of around 230,00€ were after this figure there is a possibility that the exchange rate will calculate the invoice with rounding up/down out by a penny.

For example;
230,00€ @ 1.1305 = £203.45 (£203.4498)
230,00€ @ 1.1306 = £203.43 (£203.4318)

To calculate an invoice to equal £203.44
230,00€ @ 1.130554 = £203.44

We have previously discussed this issue as a feature, but really to me this should marked up as a bug.


Hi @alan_mcbrien

I will discuss this with our team to see if something can be changed here.


Exchange rates in QuickFile are capped to 4 decimal places, so you can’t always apply it directly to get penny level precision. That said the exchange rate is more of a reference value and for every financial transaction we always store a foreign currency amount and a GBP amount.

As you can see from the Receipt Hub you can easily override both currency amounts directly.



Thank you @Glenn for the overide option in the Receipt Hub that you suggest would fix the 1p discrepancy. That did not work, it still took the rounding up/down from the Exchange Rate as the default calculation.


Does it record correctly if you don’t mark as paid from the receipt hub but instead create the purchase unpaid, then “log payment” from the purchase record screen?


@alan_mcbrien - I’ve managed to replicate this, and have logged it with our team for review.

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