172 lines
4.8 KiB
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172 lines
4.8 KiB
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=====================================
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How is Odoo's multi-currency working?
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=====================================
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Overview
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========
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Choosing to use the multi-currency option in Odoo will allow you to send
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sales invoices, quotes and purchase orders or receive bills and payments
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in currencies other than your own. With multi-currency, you can also set
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up bank accounts in other currencies and run reports on your foreign
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currency activities.
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Configuration
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=============
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Turn on multi-currency
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----------------------
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In the accounting module, Go to :menuselection:`Configuration --> Settings` and flag
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**Allow multi currencies**, then click on **Apply**.
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.. image:: media/works01.png
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:align: center
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Exchange Rate Journal
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---------------------
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The **Rate Difference Journal** records the differences between the payment
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registration and the expected amount. For example, if a payment is paid
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1 month after the invoice was issued, the exchange rate has probably
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changed. The fluctuation implies some loss or profit that are recorded
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by Odoo.
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You can change it in the settings:
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.. image:: media/works02.png
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:align: center
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View or edit rate being used
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----------------------------
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You can manually configure the currency rates in :menuselection:`Configuration -->
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Currencies`. Open the currencies you want to use in Odoo and edit it.
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Make sure the currency is active.
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.. image:: media/works03.png
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:align: center
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Click on **View Rates** to edit it and to see the history :
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.. image:: media/works04.png
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:align: center
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Click on **Create** to add the rate. Fill in the date and the rate.
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Click on **Save** when you are done.
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.. image:: media/works05.png
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:align: center
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Live Currency Rate
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------------------
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By default, the currencies need to be updated manually. But you can
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synchronize it with `Yahoo <https://finance.yahoo.com/currency-converter/>`__ or
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the `European Central Bank <http://www.ecb.europa.eu>`__. In
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:menuselection:`Configuration --> Settings`, go to the **Live Currency Rate** section.
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Choose the interval : Manually, Daily, Weekly or Monthly. You can always
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force the update by clicking on **Update Now**. Select the provider, and you
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are set !
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.. image:: media/works06.png
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:align: center
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.. note::
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Only the **active** currencies are updated
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Configure your charts of account
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--------------------------------
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In the accounting application, go to :menuselection:`Adviser --> Charts of Accounts`.
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On each account, you can set a currency. It will force all moves for
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this account to have the account currency.
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If you leave it empty, it means that it can handle all currencies that
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are Active.
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.. image:: media/works07.png
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:align: center
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Configure your journals
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-----------------------
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In order to register payments in other currencies, you have to remove
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the currency constraint on the journal. Go to the accounting
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application, Click on **More** on the journal and **Settings**.
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.. image:: media/works08.png
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:align: center
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Check if the currency field is empty or in the foreign currency in which
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you will register the payments. If a currency is filled in, it means
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that you can register payments only in this currency.
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.. image:: media/works09.png
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:align: center
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How is Odoo's multi-currency working?
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=====================================
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Now that you are working in a multi-currency environment, all
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accountable items will be linked to a currency, domestic or foreign.
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Sales Orders and Invoices
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-------------------------
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You are now able to set a different currency than the company one on
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your sale orders and on your invoices. The currency is set for the whole
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document.
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.. image:: media/works10.png
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:align: center
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Purchases orders and Vendor Bills
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---------------------------------
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You are now able to set a different currency than the company one on
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your purchase orders and on your vendor bills. The currency is set for
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the whole document.
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.. image:: media/works11.png
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:align: center
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Payment Registrations
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---------------------
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In the accounting application, go to **Sales > Payments**. Register the
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payment and set the currency.
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.. image:: media/works12.png
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:align: center
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Bank Statements
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---------------
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When creating or importing bank statements, the amount is in the company
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currency. But there are now two complementary fields, the amount that
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was actually paid and the currency in which it was paid.
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.. image:: media/works13.png
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:align: center
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When reconciling it, Odoo will directly match the payment with the right
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Invoice. You will get the invoice price in the invoice currency and the
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amount in your company currency.
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Exchange Rate Journal
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---------------------
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Go to :menuselection:`Adviser --> Journal Entries` and look for the Exchange difference
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journal entries. All the exchange rates differences are recorded in it.
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.. image:: media/works14.png
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:align: center
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.. seealso::
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* :doc:`invoices_payments`
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* :doc:`exchange`
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