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RE: Accounting v9: Question

by
AVANZOSC, S.L., Ana Juaristi Olalde
- 11/16/2014 05:03:45

Hi Fabien
In Spain we use "at date" method.
+1 to Eric's comments

El 15/11/2014 17:02, "Eric Flaux" <eric.flaux@osiell.com> escribió:

I think average rate is not legal in Europe and US (and wonder if anywhere else).

All accounting entries should be recorded at the date of transaction with actual currency rate.

Payments should be renconciliated with profit and loss account for adjustment.

See for example (sorry, for french speaking only):

http://comptablegestionnaire.e-monsite.com/medias/files/operations-en-monnaie-etrangere.pdf

 

I guess for now Odoo records transaction in the journal of the foreign currency and it has to be encoded again in the journal of the company currency (and the gain/loss can be entered according to the difference in exchange rate).

 

Eric Flaux

ABF Osiell

Immeuble Omega

Rue Jean-Marie David

ZAC de la Teillais

35740 PACE

Tél: 09.72.30.30.29

Mob: 06.84.49.86.71

E-mail:eric.flaux@osiell.com

www.osiell.com

 


 

-----Message initial-----
De: Fabien Pinckaers <fp@odoo.com>
Envoyé: sam. 15-11-2014 14:57
Sujet: Accounting v9: Question
À: Community <community@mail.odoo.com>;
Hello,  Does anyone use the "Currency Mode" on "Average Rate" on an account? In this mode: - incoming money use the currency rate at date - outgoing money use an average rate on the account for the current rate  Usually, companies work "At Date": - incoming money use the currency rate at date - outgoing money use the currency rate at date - from time to time, we post exchange gains/loss entries   Nearly all accounting software I tested use the currency mode "At Date".  I am not even sure someone may need the currency mode "Average Rate". I am not even sure it's legal to do this.  --  Fabien Pinckaers Odoo Founder  Phone: +32.81.81.37.00 Web: https://www.odoo.com Twitter: @fpodoo  Instant Demo: https://odoo.com/start

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