I keep getting this error when i try to make payments in odoo 15:
" You should configure your exchange gain or loss journal in your company settings to manage automatically the booking of accounting entries related to differences between the exchange rates".
I have tried a number of suggestions on the internet but they all don't seem to work. I use 2 currencies in odoo with the USD being my base currency. Is there anything i can do about this?
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To manage exchange gain or loss you have to have two accounts and exchange journal and Odoo created theme by default if you used Generic chart of account and you can create theme manually as well as below:
- Foreign Exchange Loss: Its an expense account and you can create it from chart of account with the below values:
Code: Use the code start with 6 and you can see the last number start with six for example (641000)
Name: Foreign Exchange Loss
Type: Expenses
2- Foreign Exchange Gain: This is an income account and you can create it from chart of account with the below values:
Code: Use the code start with 4 and you can see the last number start with four for example (441000)
Name: Foreign Exchange Gain
Type: Income
After creating the account, create a new journal from Accounting App-> Configurations -> Journals
Name: Exchange Difference
Type: Miscellaneous
Short Code: EXCH
Once you created the journal go to Accounting -> Configurations -> Settings and under the default accounts section, you will find " Post Exchange difference entries in: " under it set the below:
Journal: select the above created journal
Gain Account: Select the above created Gain account.
Loss Account: Select the above created Loss account.
Then save the configuration. This all what you have to do!
I installed generic accounting but still getting the same issue, defaults accounts don't show.
I appreciate the response to the answer below but is this procedure for this solution for odoo version 15 ? I cant seem to find the "Post Exchange difference entries" option in the settings
Yes, this is for Odoo 15.0. the "Post Exchange difference entries" will be shown if you have activate more than one currency and you are using one of the chart of account templates.