Thanks all for your comments ! I'm really appreciate.
Some time, I think that I would be stop to work on financial component
... each time I finish to read lot of english financial documentation
and I'ts a pleasure (ironic)
I will read each document and sharing with the financial manager on my
currently project.
Nicolas
Le 14/01/2015 15:52, Pierre Smits a écrit :
Indeed another application/purpose of specific exchange rates. I am sure
the governments of many countries have such advice available to the public.
The organisation with presence (of legal entities) in various countries may
have to use all of them regarding local tax reporting.
Best 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 3:28 PM, Adrian Crum <
[email protected]> wrote:
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/
