Exchange Rate issues in Odoo Accounting

Question

I have enabled multi-currencies in Odoo Accounting, and the currency rate is set to automatic. However, when I create a bill in USD, it is displayed in dollars as expected, but my main currency is LBP. The system is not converting the amount into LBP and is showing the same value for both USD and LBP. You can see this issue in the attached image below. Can anyone help me resolve this issue?
Image [1]

[1] data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABHYAAAM6CAYAAADkDMQZAAAMQWlDQ1BJQ0MgUHJvZmls

Ritika Saxena (risa) · Accepted Answer

Hello Muhammad,
Hope you are doing well!

There is the possibility for the currency rate to not update correctly, when the invoice is been posted earlier than the date of the currency rate update. For instance, You posted the invoice on 07/01/2024 in USD with base currency LBP, but the currency rate was updated on 07/15/2024 as shown in the screenshot shared, as the invoice has the same accounting date as the invoicing date, it will not take into account the exchange rate but have the ratio of 1:1.

Muhammad Ali · Answer

Hi Mehjabin,
Thank you for your reply. I have confirmed that both settings are enabled. The currency rates are correctly set up and are being updated automatically. However, the issue persists where the values in USD are not being converted to LBP in the accounting module.
You can see the currency rate settings in the attached image below. Any further guidance would be greatly appreciated.
image [1]

[1] /web/image/51899151-e176a8c7/image.png?access_token=689110a9-f872-4249-aa41-b43211faeda7

Mehjabin Farsana · Answer

Hi,
Please ensure that the currency rates are correctly set up and that the rates are being updated automatically as you mentioned.
Go to Accounting > Configuration > Currencies and see the currency rate

Thanks

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