New (hidden) field on invoice: exchange rate

[hans_bakker]

We have a requirement from the Thailand government that we have to do
the complete accounting in Thai currency...nothing special most
countries have that.

However the Thai government wants us to use the actual exchange rate of
the invoice, when the payment comes in, which can vary by invoice.

So my question is, is there any objections if I add an exchange rate
field to the invoice which overrides the value in the exchange rate
table?

In this way the invoice can be shown in the initial foreign currency and
in local currency with the correct values.

Regards,
Hans

--
Antwebsystems.com: Quality OFBiz services for competitive prices

[Jacopo Cappellato-3]

How is the exchange rate decided/set for a given invoice?
Is there a predefined rule (i.e. the invoice date) or it is a manual  
process?

Jacopo

On Sep 9, 2008, at 8:10 AM, Hans Bakker wrote:

> We have a requirement from the Thailand government that we have to do
> the complete accounting in Thai currency...nothing special most
> countries have that.
>
> However the Thai government wants us to use the actual exchange rate  
> of
> the invoice, when the payment comes in, which can vary by invoice.
>
> So my question is, is there any objections if I add an exchange rate
> field to the invoice which overrides the value in the exchange rate
> table?
>
> In this way the invoice can be shown in the initial foreign currency  
> and
> in local currency with the correct values.
>
> Regards,
> Hans
>
> --
> Antwebsystems.com: Quality OFBiz services for competitive prices
>

[hans_bakker]

Currently the exchange rate is taken from the exchange rate table using
the invoice date.
This new field is just to able to override that.
I would like to set this exchange rate at the moment the payment comes
in.

The payment and the invoice, at that point in time, have different
currencies. The system will see that and will ask if the invoice should
be fully applied or a part of it. If it is fully applied, the system can
calculate the exchange rate and put that on the invoice so it will match
the payment. I intend to convert the actual stored invoice to the 'home'
currency. Because of the exchange rate the invoice will still show the
correct foreign values.

regards,
Hans


On Tue, 2008-09-09 at 09:08 +0200, Jacopo Cappellato wrote:

> How is the exchange rate decided/set for a given invoice?
> Is there a predefined rule (i.e. the invoice date) or it is a manual  
> process?
>
> Jacopo
>
> On Sep 9, 2008, at 8:10 AM, Hans Bakker wrote:
>
> > We have a requirement from the Thailand government that we have to do
> > the complete accounting in Thai currency...nothing special most
> > countries have that.
> >
> > However the Thai government wants us to use the actual exchange rate  
> > of
> > the invoice, when the payment comes in, which can vary by invoice.
> >
> > So my question is, is there any objections if I add an exchange rate
> > field to the invoice which overrides the value in the exchange rate
> > table?
> >
> > In this way the invoice can be shown in the initial foreign currency  
> > and
> > in local currency with the correct values.
> >
> > Regards,
> > Hans
> >
> > --
> > Antwebsystems.com: Quality OFBiz services for competitive prices
> >
>

--
Antwebsystems.com: Quality OFBiz services for competitive prices

[Jacopo Cappellato-3]

Hans,

based on the additional information you have provided I don't see the  
need for the new field.
You can just use the date in the payment and then lookup the proper  
exchange rate by date.
Based on your workflow, if you are artificially creating the rate  
exchange based on a full payment against an invoice, then I'd suggest  
to create, from a customized service, a new record (with from/thru  
dates set) in the UomConversionDated entity and then just lookup that  
value.

Jacopo


On Sep 9, 2008, at 10:14 AM, Hans Bakker wrote:

> Currently the exchange rate is taken from the exchange rate table  
> using
> the invoice date.
> This new field is just to able to override that.
> I would like to set this exchange rate at the moment the payment comes
> in.
>
> The payment and the invoice, at that point in time, have different
> currencies. The system will see that and will ask if the invoice  
> should
> be fully applied or a part of it. If it is fully applied, the system  
> can
> calculate the exchange rate and put that on the invoice so it will  
> match
> the payment. I intend to convert the actual stored invoice to the  
> 'home'
> currency. Because of the exchange rate the invoice will still show the
> correct foreign values.
>
> regards,
> Hans
>
>
> On Tue, 2008-09-09 at 09:08 +0200, Jacopo Cappellato wrote:
>> How is the exchange rate decided/set for a given invoice?
>> Is there a predefined rule (i.e. the invoice date) or it is a manual
>> process?
>>
>> Jacopo
>>
>> On Sep 9, 2008, at 8:10 AM, Hans Bakker wrote:
>>
>>> We have a requirement from the Thailand government that we have to  
>>> do
>>> the complete accounting in Thai currency...nothing special most
>>> countries have that.
>>>
>>> However the Thai government wants us to use the actual exchange rate
>>> of
>>> the invoice, when the payment comes in, which can vary by invoice.
>>>
>>> So my question is, is there any objections if I add an exchange rate
>>> field to the invoice which overrides the value in the exchange rate
>>> table?
>>>
>>> In this way the invoice can be shown in the initial foreign currency
>>> and
>>> in local currency with the correct values.
>>>
>>> Regards,
>>> Hans
>>>
>>> --
>>> Antwebsystems.com: Quality OFBiz services for competitive prices
>>>
>>
> --
> Antwebsystems.com: Quality OFBiz services for competitive prices
>

[BJ Freeman]

As long as the difference between Cash and Accrual accounting is not
changed in the SVN then we are ok.
Maybe need to think of a Flag for Accrual.
Cash is when the money actually comes in
Accrual is when the invoice is created.

Hans Bakker sent the following on 9/8/2008 11:10 PM:

> We have a requirement from the Thailand government that we have to do
> the complete accounting in Thai currency...nothing special most
> countries have that.
>
> However the Thai government wants us to use the actual exchange rate of
> the invoice, when the payment comes in, which can vary by invoice.
>
> So my question is, is there any objections if I add an exchange rate
> field to the invoice which overrides the value in the exchange rate
> table?
>
> In this way the invoice can be shown in the initial foreign currency and
> in local currency with the correct values.
>
> Regards,
> Hans
>

[hans_bakker]

Jacopo, sounds pretty reasonable as long as the invoice dates are
different for every invoice. We have timestamps which should allow for
many timestamps on the same date...so yes sounds fine to me...

On Tue, 2008-09-09 at 11:01 +0200, Jacopo Cappellato wrote:

> Hans,
>
> based on the additional information you have provided I don't see the  
> need for the new field.
> You can just use the date in the payment and then lookup the proper  
> exchange rate by date.
> Based on your workflow, if you are artificially creating the rate  
> exchange based on a full payment against an invoice, then I'd suggest  
> to create, from a customized service, a new record (with from/thru  
> dates set) in the UomConversionDated entity and then just lookup that  
> value.
>
> Jacopo
>
>
> On Sep 9, 2008, at 10:14 AM, Hans Bakker wrote:
>
> > Currently the exchange rate is taken from the exchange rate table  
> > using
> > the invoice date.
> > This new field is just to able to override that.
> > I would like to set this exchange rate at the moment the payment comes
> > in.
> >
> > The payment and the invoice, at that point in time, have different
> > currencies. The system will see that and will ask if the invoice  
> > should
> > be fully applied or a part of it. If it is fully applied, the system  
> > can
> > calculate the exchange rate and put that on the invoice so it will  
> > match
> > the payment. I intend to convert the actual stored invoice to the  
> > 'home'
> > currency. Because of the exchange rate the invoice will still show the
> > correct foreign values.
> >
> > regards,
> > Hans
> >
> >
> > On Tue, 2008-09-09 at 09:08 +0200, Jacopo Cappellato wrote:
> >> How is the exchange rate decided/set for a given invoice?
> >> Is there a predefined rule (i.e. the invoice date) or it is a manual
> >> process?
> >>
> >> Jacopo
> >>
> >> On Sep 9, 2008, at 8:10 AM, Hans Bakker wrote:
> >>
> >>> We have a requirement from the Thailand government that we have to  
> >>> do
> >>> the complete accounting in Thai currency...nothing special most
> >>> countries have that.
> >>>
> >>> However the Thai government wants us to use the actual exchange rate
> >>> of
> >>> the invoice, when the payment comes in, which can vary by invoice.
> >>>
> >>> So my question is, is there any objections if I add an exchange rate
> >>> field to the invoice which overrides the value in the exchange rate
> >>> table?
> >>>
> >>> In this way the invoice can be shown in the initial foreign currency
> >>> and
> >>> in local currency with the correct values.
> >>>
> >>> Regards,
> >>> Hans
> >>>
> >>> --
> >>> Antwebsystems.com: Quality OFBiz services for competitive prices
> >>>
> >>
> > --
> > Antwebsystems.com: Quality OFBiz services for competitive prices
> >
>

--
Antwebsystems.com: Quality OFBiz services for competitive prices