Continuing the discussion from Bank tagging rules (Bank transfer between accounts):
When transferring between two Bank accounts that are not in Sterling by using the obvious method of doing a transfer from Euro Account 1 to Euro Account 2 the exchange rate is calculated by xe.com; however this has a problem!
Account 1 Euro has had the sterling value calculated from the payment already calculated on a different exchange rate to xe.com; and so if processing these bank transfers by the obvious method then the receiving Euro Account 2 does not balance with the originating Euro Account 1.
At present the work round that keeps the accounts inline;
- Bank transfer to a “Sterling” account
- Go to Chart of Accounts - “Sterling” account that has received the bank transfer
- And use “Move to new code” to transfer to Euro Account 2
By using this work round the two Euro accounts are balanced with each other.
What I would like as feature is the ability to set what the excahnge rate on foreign bank transfers i.e. a box to set the “Sterling” value between the two accounts.