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How to do automatic multi-currency revaluation ?

By
Kareem Erpians
on 2/10/13, 3:57 PM 5,218 views

How to do automatic multi-currency revaluation ?

what does it mean? is it something like: you know you have a total customer debt for $5000 and your accounting is in €, given the today's value of $1 in €, you want to post some accounting entries of provisional for the case the € rate fall down... or you just want to change the currency rates? mmh?

Quentin De Paoli (qdp)
on 2/10/13, 7:31 PM

Hi, good day! Similar question here but I'd make mine clearer: in terms of multi-currencies why v7 Reporting->Sales->[Sales Analysis] comes out with all the currencies mixed, instead of being converted to the base currency which from my viewpoint shall make a lot more sense(summable). Thanks!

Jay
on 2/12/13, 12:56 AM

I want to revaluate the foreign currency to the local curerncy ( the currency in the balance sheet and income statement). In Microsoft Dynamics GP for example there is an automatic currency revaluation that create automatic forex entries ( plus or minus values).

Kareem Erpians
on 2/12/13, 3:41 PM

Does GP reevaluate bank and cash accounts only, or payable and receivable accounts too?

Mohammad Alhashash
on 2/23/13, 5:29 AM

AFAIK, there's no way to do multi-currency revaluation with OpenERP.

Davide Corio
on 3/4/13, 10:40 AM
1

Anil R. Kesariya

--Anil R. Kesariya--
4321
| 6 5 8
Gandhinagar, India
--Anil R. Kesariya--
ERP Consultant

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Technical & Functional Expert
Anil R. Kesariya
On 10/24/13, 3:40 AM

Hello Kareem,

In OpenERP the multi currency will work automatically , but you need to do the specific configuration for that.

If you want to use multi currency feature in your current system.

1) Go to Setting >>Accounting >> allow multi currency feature.

2) You need to speficify the currency rate in Accounting Configureation.

Its in Accounting>>Configuration>>Misc.. >>Currency.

You need to specify one base currecny which is the main or default currency of your company and update the other currency you want to use and make it active.

Now the mutli currency will enable in your system after this configuration. there is only final and main config. is remaining.

3) You need to create specific journal for each currency you are doing transaction with.

For Journal set specific account and set your secondary currency in each Jouranl , If you want to make a journal with default currency than no need to select any currency be default you Journal will be created with company default currency.

If you need any further assist , I am here to help you.

Best Regards,

Anil Kesariya (SerpentCS)

how it answering the question about revaluation?

Andrey Zarubin
on 4/2/14, 11:32 AM
0
Eric Caudal
On 10/24/13, 12:27 AM

A specific and complete module is available in version 6, 6.1 and 7 - 6.0: l10n_cn_account_fx_valuation - 6.1: account_unrealized_currency_gain_loss module - 7.0: account_multicurrency_revaluation

At least I have FX revaluation completely covered for Chinese companies (which is in principle similar to any Anglosaxon company)

0

You can do multi-currency reevaluation, but it's not automatic. It's just account moves that you encode manually when you need.

0
Mahmoud M. Soliman
On 8/27/13, 11:47 AM

I have the same problem as i want to show the customer all his balances divided into 4 different currencies and also their transactions are different also, What have i do?

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Asked: 2/10/13, 3:57 PM
Seen: 5218 times
Last updated: 3/27/16, 7:05 AM