Bank Currency Rates
by T.V.T Marine Automation (aka TVTMA) https://viindoo.com/apps/app/17.0/to_bank_currency_rate , Viindoo https://viindoo.com/apps/app/17.0/to_bank_currency_rate
Odoo
$ 31.21
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 265 |
| Technical Name |
to_bank_currency_rate |
| License | OPL-1 |
| Website | https://viindoo.com/apps/app/15.0/to_bank_currency_rate |
| Versions | 12.0 13.0 14.0 15.0 16.0 17.0 |
Demo video: Bank Currency Rates
The problem
By default, the foreign currency conversion in Odoo does not depend on any bank. Users must define the currency rates published by the bank of their choice. However, this causes inconvenience when a business has transactions in foreign currencies with different exchange rates in various banks at a time. On the other hand, foreign currency exchange activities are done with selling/buying rates of the same bank.
Solutions
This module provides the following features:
- When setting up a foreign currency, be able to select a specific bank and the Exchange Type (Sell or Buy) to configure the exchange rate for each bank corresponding to each selling or buying currency activity.
- During the foreign currency conversion, if a bank is defined then the exchange rate at the said bank will be used. In case no bank is specified, the exchange rate of the main bank was configured in the Settings of the Accounting app.
Editions Supported
- Community Edition
- Enterprise Edition
Installation
- Navigate to Apps.
- Search with keyword to_bank_currency_rate.
- Press Install.
Note:
- To view full features of the to_bank_currency_rate module, you need to install the Viindoo Accounting software.
- Install the Contacts app to be able to create bank information.
Instructions
Instruction video: Bank Currency Rates
Add currency rate
- Step 1: Create a bank account information.
- Step 2: Enable the multi-currencies feature and Update new currency rates.
- Step 3: Configure the main bank account used for the currency rate updates in the system.
Currency rates application on each operation
- Customer invoices and vendor bills: Journal entries created from vendor bills are automatically computed in the selling rates, and buying rates are applied to the ones created from customer invoices.
- Payment for vendor bills in foreign currencies: Accounting entries are recorded at the selling rate of the paying bank.
- Customer pays invoices in foreign currencies: Journal entries are recorded at the buying rates of the bank that receives the payment.
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
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