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Re: Accounting v9: Questionby
Yes we are allowed to use a monthly average rate in singapore. We follow closely to ifrs compliance.
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: +18.104.22.168.00 Web: https://www.odoo.com Twitter: @fpodoo Instant Demo: https://odoo.com/start