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I am deploying Odoo V9 in Colombia and am entering my inventory (purchased in USD) that I have had since the beginning of 2015. I have already enabled multi-currency and imported the USD/COP exchange rates for every day in 2015.  

Let's say I enter a retroactive Purchase Order for PRODUCT1 for June 1, 2015.  I would expect that Odoo calculates the Inventory Valuation using the exchange rate on June 1, 2015, but rather it seems to use the most recent exchange rate available (say Dec 31, 2015 in this case).  

Is this right?  Q: Is my inventory valuation for everything supposed to be based on today's exchange rate? or is it supposed to be based on the exchange rate of the purchase date?

This doesn't seem right and according to this article it should be based on the purchase or BS date:
http://www.accountingweb.co.uk/anyanswers/valuing-stock-year-end

If anyone can clarify how I can remediate this situation and retroactively enter foreign purchases with the correct exchange rate it would be very helpful.

Thanks,

Adam



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Best Answer

Since your inventory may be worth a different amount between the date of receipt and the date of the Vendor Bill, the value is adjusted to match the amount owed to the Vendor once the Bill is posted.

When Odoo receives the goods, it doesn't know the date for the related Bill so it uses the Receipt date and the FX rate associated to that date.

Later, when the Bill is recorded (probably with a different date) then it uses the Bill date and the FX rate associated to that date.


Unless the two dates are the same, or the rate is identical, Odoo will make an adjusting entry. 

It will credit (if the currency is worth less because the rate went down) or debit (if the currency is worth more because the rate went up) the inventory account and post a balancing entry to the stock interim received account, to ensure that account balances with what was posted to AP.

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