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Re: Accounting v9: Question

by
Ashley Marc
- 11/16/2014 22:28:56

Yes we are allowed to use a monthly average rate in singapore.  We follow closely to ifrs compliance. 

On 15 Nov 2014 21:57, "Fabien Pinckaers" <fp@odoo.com> wrote:
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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