• From: Canada
  • Registered: 06/12/2010
  • Posts: 69

Topic: exchange rates not updating automatically

I have 3 currencies set up - my home currency and USD and CAD.

USD & CAD have been set to auto update, but this doesn't work - I have to manually update the currencies every day.

I've tried using Yahoo and Google for rates - both work with manual update on the Banking and General Ledger tab.

Is there some kind of permission setting I have to use to make this auto update?

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: exchange rates not updating automatically

Banking and General ledger => Currencies => Edit Currency => tick AutoUpdate => Update

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apmuthu's Website

  • From: Canada
  • Registered: 06/12/2010
  • Posts: 69

Re: exchange rates not updating automatically

apmuthu wrote:

Banking and General ledger => Currencies => Edit Currency => tick AutoUpdate => Update

Auto update is already ticked.

What is the trigger? Is it some kind of cron job? I'm thinking there is a permission problem somewhere.

Thanks.

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: exchange rates not updating automatically

Try to uncheck the auto-update, save, tick the auto-update, save and see what happens. Actually, there should be only one update each day for each currency.

From the comments on line 297 in includes/ui/ui_view.inc:
"autoupdate means use remote service & store exrate on first transaction."

Hence there is no cron job used here!

apmuthu's Website

5 Reply by ckrosco (edited by ckrosco 02/16/2015 07:57:25 pm)

  • From: Canada
  • Registered: 06/12/2010
  • Posts: 69

Re: exchange rates not updating automatically

apmuthu wrote:

"autoupdate means use remote service & store exrate on first transaction."

So my question is - What kind of transaction that will trigger this?

I did what you suggested about unticking the autoupdate box, saving and then reticking. This makes no difference.

I enter a few sales orders in USD, all the way through to customer payment, and the rate does not update.

I also did a transfer from a USD bank account to a CAD account, which did not update the rates.

So perhaps I have to do Payment or Deposit on the Banking and General Ledger tab, which seems to be the only places where exchange rates are included in the transactions. Is that correct?

  • joe
  • Administrator
  • Offline
  • Registered: 03/15/2007
  • Posts: 5,085

Re: exchange rates not updating automatically

Please go into Banking and General Ledger -> Exchange Rates and select the USD and press the button 'Get'.

If this works, then you should get an automatic update when saving foreign documents.

If it doens't work, you could try to change Exchange Rate Provider in the file config.php.

/Joe

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: exchange rates not updating automatically

@ckrosco: In your first post here you stated

I have to manually update the currencies every day.

Does this mean that you entered the exchange rate manually or got it from the FA exchg rate provider by manually clicking the get rate button?

apmuthu's Website

  • From: Canada
  • Registered: 06/12/2010
  • Posts: 69

Re: exchange rates not updating automatically

apmuthu wrote:

Does this mean that you entered the exchange rate manually or got it from the FA exchg rate provider by manually clicking the get rate button?

I get the exchange rate by clicking the button. it works fine with both Google and Yahoo.

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: exchange rates not updating automatically

Attempting to pay a foreign supplier (in non default currency of the company) too should trigger the exchange rate acquisition.

apmuthu's Website

  • From: Canada
  • Registered: 06/12/2010
  • Posts: 69

Re: exchange rates not updating automatically

OK - I see. I just made a payment in CAD and it updated the exchange rate.

Thanks for all your help. I misunderstood this function - I thought it would update the rate everyday without any action on my part.