[v11] what's the impact/purpose of a manual "exchange rate entry"?

  • my default company currency is USD
  • there are however some cash accounts in CNY also

So the understanding how currency exchange (USD>CNY) works is significant

now I have manually created Currency exchange USD > CNY with a rate of 1 USD = 6.25 CNY

that leaves me believing USD is being rated in any USD/CNY transaction with 1:6.25 (or 0.16 which is the same rate the other way around)

now I make a new “Payment Entry” (internal transfer) between 2 CNY cash accounts.
Surprisingly the system wants to use an exchange rate rate of 0.149 (which equals 1:6.7114 and not 1:6.25 [which equals 0.16]).

so, I am wondering

  1. where this automatic 0.149 rate comes from?
  2. what’s the impact/purpose of creating an “Exchange Rate” entry?
  1. Auto fetching of currency rate is from https://www.frankfurter.app/

  2. Manual “Exchange Rate” entry is to override auto-fetched rate.

that’s pretty much what I though it should be. Do you have any practical experience for this (manual currency exchange overriding the auto-fetched rate) to work?

Unfortunately it seems that it doesn’t work at all in my test environments (neither in v10, nor v11).

Yes, I think it works, however I am not sure about all the settings you have in your environment to comment on why it does not work for you

actually after a couple of hours. It works. I am wondering whether you net a pair of rates, i.e.

  • USD > CNY = 6.25


  • CNY>USD = 0.16

… for this to work in any direction, or is the system smart enough to ‘do the math’?

Yes you have to set up both rates for it to work. Maybe that was the missing piece in your set up.

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