In addition, preset exchange rates exist for calculating taxes:
http://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates Adrian Crum Sandglass Software www.sandglass-software.com On 1/14/2015 2:17 AM, Pierre Smits wrote:
Nicolas, Please research IAS documents regarding foreign exchange rates and their effects. Foreign exchange rates have a limited lifespan and each has a specific application and/or purpose in the accounting and financing domain of an organisation. And at any given moment in time multiple can exist for a given combination (e.g. EUR<>USD) within these domains. And regarding GCR all need to be registered and reported. Consider the following basics: - the agreed-upon (internal) exchange rate for the financial reporting purpose (e.g. used in the gl transactions) of a given reporting period - the exchange rate for the day (spot rate) That can lead to the following registrations - the exchange rate applicable at the start date of the agreement (9 out of 10 times this is the same as the agreed-upon internal exchange rate), for contract valuation purposes. If the agreement duration is longer than the financial reporting period, one sees that the valuation of the agreement changes over time. - the agreed upon exchange rate at the start date of the financing arrangement of the agreement. Think of an agreement negotiated in YEN (internal currency in EUR), and financing instruments applied regarding future payments (e.g. in USD, GBP). - The official exchange rate applicable for the currency at the moment of invoicing in relation to the country of delivery. Think delivery in a currency deprived country where the government dictates that x % of the payment must be in their currency of choice. And even more can be in play.... The scenario outlined by Hans is a optimistic, yet limited viewpoint on reality. Your use-case is a real-life scenario and if we want OFBiz to be usable in more settings than only in those (perceived by the few), we need to address and resolve the issue. Please open an improvement issue in JIRA, so that we can keep the aspects regarding discussion and action points (sub-tasks, dependencies, etc) together. Regards Pierre Smits *ORRTIZ.COM <http://www.orrtiz.com>* Services & Solutions for Cloud- Based Manufacturing, Professional Services and Retail & Trade http://www.orrtiz.com On Wed, Jan 14, 2015 at 1:58 AM, Hans Bakker <[email protected]> wrote:Why fix the conversion rate?, just agree on the foreign currency amount.....Invoices are always in the currency of the customer...and so is the payment, only inside the system the values are converted and should not interest your customer .... On 13/01/15 22:32, Nicolas Malin wrote:Hi, With the current customer project I need to manage some currency conversion rate during a period, a purpose and between two party. The main case is the Euro company who work with American Supplier and sign a agreement exchange rate to stabilize their invoicing and payment instead of follow the stock exchange. At this time the first two has covered by UomConversionDated, but nothing is present two indicate what is my currency conversion rate with an other company. It's easy to solve with Agreement entity, a dedicate agreementTypeId and add an assoc entity AgreementUomConversionDatedAppl. An other problem, it's impossible to define different rate for the same currency at the same date like this uomId uomIdTo fromDate rate EUR USD 2015-01-01 00:00:00 1.200 -> use by an agreement between MyCompany - Mc Company EUR USD 2015-01-01 00:00:00 1.258 -> use by an agreement between MyCompany - Mc Society EUR USD 2015-01-01 00:00:00 1.248 -> use by an agreement between MySubsidiaryCompany - Mc Society My first idea would be move UomConversionDated on single pk uomConversionDatedId but I prefer to adding a new entity like : UomConvSource uomConvSourceId * uomId uomIdTo fromDate thruDate conversionFactor customMethodId decimalScale roundingMode purposeEnumId And : AgreementUomConvSourceAppl agreementId * uomConvSourceId * With this, I will do add helper service to resolve the conversion rate from a context with the step : * scanning Agreement * scanning UomConversionDated * scanning UomConversion Any remarks and suggest are welcome as usual ;) -- #jeSuisCharlie (et j'emmerde les lobbotomisés) logoNrd <http://nereide.fr/> Nicolas Malin Responsable Interplanétaire de la reproduction des crevettes licorne en apesanteur astral [email protected] 3bis rue des Isles 37270 VERETZ 02 47 50 30 54 Apache OFBiz <http://ofbiz.apache.org/> | ofbiz-fr < http://www.ofbiz-fr.org/> | | réseau LE <http://www.libre-entreprise.org/
