Multicurrency Journal Entry // How is it done right?

Hi. I would like to make a journal entry. Have you done one before? It does assume some random accounting difference without even having an input field for the exchange rate. It seems I am missing something.

The bank statement:

Attempt 1:

Attempt 2:

Attempt 3:

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Everything is up to date.
ERPNext 15
Running on Debian 12

@Harry To get the exchange_rate field to show up, you need to click on the gear icon at the table and select those fields to display.

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@felixlu07 Thank you, that helped!

I am encountering further resistance:

  1. I can only change the Exchange Rate of the Row / Account to which the money is being exchanged.
  2. The accuracy of the exchange rate is not high enough to calculate the exact zero, partly because I need to inverse the number from the original one given by the bank statement. I calculated 1 / 1.0462 = 0.955840184 , but it only counts to 0.95584

Do you have further ideas?

Peek 2024-05-21 19-53

You have to determine what is the precision that is desired through your entire ERPNext setup. Once you are clear on that, you can set it under System Settings.

Alternatively, if you only want that field to have a higher precision (not recommended for the sake of consistency), then you can go through the property setting route, where you would set the doctype as Journal Entry Account, the field as exchange_rate, property as precision, property_type as varchar (this may be INT, Iā€™m not 100% sure), and value as {{whatever_precision_you_want}}.

See the example I attached.

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Thank you. I followed your universal Float Precision approach with following results:

  1. Change Float Precision from 3 to 2
    No effect in Difference (Dr - Cr)
  2. Reboot ERPN
    No effect in Difference (Dr - Cr)
  1. Change Float Precision from 2 to 9
    No effect in Difference (Dr - Cr)
  2. Reboot ERPN
  3. Reset ERPN Cache
    No effect in Difference (Dr - Cr)


Difference (Dr - Cr) = -0.43
Are you able to get better results?

This is the main answer to the original question really. It keeps the exchange difference accumulation tiny enough to be acceptable for the tax audit.

Thank you alot for sharing a way around this issue! :partying_face: