Topic: Exchange Variance


when I re-evaluate at the end of period, the banks get change based on the exchange rate that I record in FA.

but about AR and AP it doesn't happened. it looks FA found a new Rate from some where or calculate new rate.

it make a big amount of Exchange variance in my Trial Balance. is there any solution for it.


Re: Exchange Variance

There is a difference between bank to bank exchange rates in real. And from exchange rate provider it has some difference. So whenever you record payment, confirm with bank and record the amount to the invoice.  And bring the exchange rate values as of it's. Otherwise you will be in trouble at the end.  Try to identify the more affected transactions and adjust them manually to solve the problem.  Each transaction records exchange rate in its own entry.  And compare them and alter your gl_trans  entires.
This is the only way. And keep your developers an accountant without during the edit.
I feel there is no option without it.

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HRM CRM POS batch Themes

3 (edited by A.A 12/20/2020 06:30:05 am)

Re: Exchange Variance

thanks dear kvvaradha

unfortunately I record All my data based on rates during years.
could you tell me how can I adjust them manually?

I try it with Journal and Bank payment and Deposit many times, but it doesn't work and by revaluation all of them get back.

Re: Exchange Variance

You can't do this manually. You need to write a program to store it. And also you need exchange rates of each rate that you have journal entry it.  If it's one or few entries you can do manually. And for more entries, You need program to do this.

Subscription service based on FA
HRM CRM POS batch Themes

5 (edited by A.A 12/21/2020 08:39:42 am)

Re: Exchange Variance

Dear kvvaradha

Let me get clear about my data.

I have 3 active bank account every of them work with at least 3 currencies.

in this case I have some supplier or customer which works in EURO or POUND and we some time do our payments in USD or Emirate Dirham.

now these account make a periodic wrong exchange variance based on my revaluation but not my rates.

I use rates in order to make a unified the calculation in exchange variance. I can't imaging the several rates in one day when there is a several active bank account. this is the right way where I live. (""if you think it's wrong I insist to describe me right way or a guidance link"")

now please let me the solution. possibly manually, if not please let me know the cost of program and the way I can achieve it.

Thnks for ur help

Re: Exchange Variance


Its not easy to tell you without checking the program. If you want me to help you on this issue contact me with details. I will look into it.

Subscription service based on FA
HRM CRM POS batch Themes

7 (edited by A.A 12/26/2020 12:39:28 pm)

Re: Exchange Variance

what kind of detail do you need?

I have problem with 5 account indeed. most of should be zero based on currency but the FA calculate Exchange VAriance.

could you tell me what kind of detail you need?

Re: Exchange Variance


is there any idea about this issue?