Set custom exchange rate for transfer/transaction

Hi everyone,

Once again, I'm loving this software!

When doing multi-currency transfers or transactions via PayPal, it uses PayPal's own exchange rate. Because PayPal's exchange rate differs to the rate set in Akaunting's currency settings, it would be great to manually set the exchange rate for a specific transaction.

This doesn't seem to be possible (which is why I've categorised this post in "Ideas"). Or is there a way that I have overlooked?

Thanks!

I have the same problem when I do transfers between my USD and my EUR bank accounts. It uses a fixed rate which does not match the current rate. Now I have to do settlements each time I do a internal transfer.

It is good idea to add this feature

Hello Rob,

Thanks for this suggestion.

While it makes sense, I'm not sure how are we going to show it. Any idea?

Regards

Hi Denis,

I’ve tried to think this through and here’s what I’ve come up with:

My suggestion would be to first automatically detect whether the transaction involves a conversion in currency. I expect this wouldn’t be too difficult using Javascript. If the transaction is multi-currency, then we display a textbox similar to what I’ve included in the example below.

By default, the text box is populated with the exchange rate set in the global settings. However, you can easily amend it manually. It also might be nice to include a preview of what the resulting amount would be in the converted currency. I’ve included that in the example too.

Here’s an example I’ve quickly created: https://imgur.com/192X4N0

Regards

Rob

Then, when we click save, we write the new exchange rate to the transaction entries in the database.

Hi,

Same here - without this feature can use this app =(

In transfer menu you could put textbox in "to account" section with final amount of account currency without rates...

Hi Denis,

I think it could be like in the screenshot.

It could be not requiered fields.

In our counry rates changes every day and on different spots rate could be differend - so it is a killer feature to make transfers in this program.

https://monosnap.com/file/DFKF3L34WMEwqAiROLkNb5uDmwogFq


PS - or it is possible to make like in Rob's screen

Pls!