On 10/15/2020 5:37 AM, Gal Bar Mashiah wrote:
I have expense accounts in several currencies, for example:
Expenses:Food:USD
Expenses:Food:ILS
I run the income statement report for 2013 for example, select only
Expenses:Food account (and its sub accounts) and select ILS as the currency
report.
The Price source chosen is Nearest in time.
While I expected each Expenses:Food:USD transaction to be translated to ILS
based on the transaction date exchange rate (the price database is
populated with that data), what I actually observed is that all
Expenses:Food:USD transactions are translated to ILS based only on a single
fixed exchange rate, in this case - the exchange rate as of the report end
date 31/12/2013.
Is this the expected behavior?
Is there a way to achieve the behavior I was expecting?
I have been waiting for somebody to raise this as a problem so we could
begin a discussion about THIS problem with multi-currency books. I
didn't want to raise what I saw as an obvious "when evaluated" issue
when it didn't seem to worry anybody else.
The point isn't so much that this person wanted the conversion frozen as
of the date of the transaction itself (though in that case, maybe want
to revisit whether multi-currency books apply). The point is that the
date matters. And there is no "proper date" to use because that will
depend on the rules of jurisdictions and/or organizations
rules/procedures. Let that discussion begin
Meanwhile, Gal, please explain something to me. If you wanted dollar
amounts converted to shekels as of the date of the initial transaction
(frozen as of that date) why entered in dollars rather than shekels? The
normal purpose of having multi-currency books is that amounts are being
kept in more than one currency precisely because exchange rates DO vary
over time. In other words, you couldn't just convert as of the date of
the transaction to a common currency because it is the conversion rate
at some other date that should be used << at the end of each quarter, at
year end, etc. >>
Michael
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