Odoo is the world's easiest all-in-one management software. It includes hundreds of business apps:
CRM | e-Commerce | Accounting | Inventory | PoS | Project management | MRP | etc.
Does anyone can explain to me what is the process for currency conversion (multi currencies) both for sale and purchases? I installed sale, purchase_requisition, and account module. Here is what i did so far:
A. I used PHP as my base currency
B. I made transaction on Supplier Invoices and select currency as USD
On my currency, i modified, w/c i am not so sure if my modification is right, PHP's current rate is 45.22000 and USD's current rate is 0.02211, since 1 US Dollar is equivalent to 45.22 peso and 1 peso is equivalent to 0.022114 US Dollar.
On my transaction above, the cost price of my product is 980.00, set Quantity into 1.000, and select a 12% purchase tax. This yields to Subtotal of $ 21.6 and Tax of $ 2.6 with a Total of $ 24.27
What annoys me now is that when i checked my Journal entry its journal items registered as follows:
Invoice Name Partner Account Due Date Debit Credit Amount Currency Tax Account ...
EXJ/2015/0004 / Sample 120000 07/15/2015 0.00 49628.71 -24.27 USD
EXJ/2015/0004 Purchase Sample 110300 5316.63 0.00 2.60 USD Tax Paid
Tax Supplier Tax Paid Rate O
EXJ/2015/0004  Sample 220000 44312.08 0.00 21.67 USD Taxable
Tax Supplier Tax Paid Purchases
My questions are:
1. Does the result correct? What i expect was my credit would be 1097.49 (24.27 X 45.22), my 2 debit would be 117.57 (2.6 X 45.22), and 979.9 (21.67 X 45.22).
2. Is it possible that from invoice to journal entry Debit, Credit, and Amount are converted according to the base of currency of the Company as well as the currency symbol?
Any help or explanation is highly appreciated.
About This Community
This platform is for beginners and experts willing to share their Odoo knowledge. It's not a forum to discuss ideas, but a knowledge base of questions and their answers.Register
Odoo Training Center
Access to our E-learning platform and experience all Odoo Apps through learning videos, exercises and Quizz.Test it now
|Asked: 7/15/15, 3:33 AM|
|Seen: 1134 times|
|Last updated: 8/15/15, 4:50 AM|