• Registered: 10/28/2008
  • Posts: 4

Topic: wrong calcution exchange rate

hi joe,....

i used exchange rate from rupiah(indonesian currency) to USD, the company currency is USD but customer currency is rupiah, for example

monitor 17" price is $120 for retail price and $100 for wholesale price,
rupiah rate is 9800, so the price for that item is :
$120 * Rp.9800= Rp.1.176.000
or
$100 * Rp.9800= Rp.980.000

but total amount is wrong.

that's


andrian

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: wrong calcution exchange rate

Hello,
You should enter the currency rate against the USD. 1 Rupiah = ? USD or 1 / 9800. Due to the small amount 0.0001xxxxx you should probably increase th currency rate decimals in display setup. Then everything is ok.

/Joe

  • Registered: 10/28/2008
  • Posts: 4

Re: wrong calcution exchange rate

thank's joe...i think your programe very perpect...your programme not wrong but i was wrong..the currency automatic searching from internet for the rate. so i change your script to manual rate

regard


andrian

  • Registered: 10/28/2008
  • Posts: 4

Re: wrong calcution exchange rate

how to input opening stock????

thanks

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: wrong calcution exchange rate

To get it right, you should enter the stock one by one and location by location in Inventory Adjustments. To get the correct average price calculated, you should enter the values/purchase price by item.

When you are ready the GL Inventory ends up with an accumulated amount and the same amout is credited to a consumable account. This account should then be debited for the same amount and the credit post should be put into an equity account (your company owns this stock). You should have an opening balance from your earlier accounting to compare with, otherwise talk to somebody with accountancy knowledge.

There might be other ways of doing this. Please someone advise us then.

/Joe

  • Registered: 10/28/2008
  • Posts: 4

Re: wrong calcution exchange rate

thank's joe


finally i am create my own script to input opening stock, but not one by one, i am input all product one time.