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Automatic Currency Rates Update VietcomBank

by
Odoo

$ 64.54

v 16.0 Third Party
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Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies • Invoicing (account)
• Discuss (mail)
Community Apps Dependencies
Lines of code 484
Technical Name viin_auto_currency_rate_vcb
LicenseOPL-1
Websitehttps://viindoo.com/apps/app/16.0/viin_auto_currency_rate_vcb
Versions 13.0 14.0 15.0 16.0 17.0
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Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies • Invoicing (account)
• Discuss (mail)
Community Apps Dependencies
Lines of code 484
Technical Name viin_auto_currency_rate_vcb
LicenseOPL-1
Websitehttps://viindoo.com/apps/app/16.0/viin_auto_currency_rate_vcb
Versions 13.0 14.0 15.0 16.0 17.0

Demo video: Automatic Currency Rates Update VietcomBank

Problems

  • In multi-currency enterprises, users must manually update exchange rates daily. This task becomes increasingly time-consuming and prone to errors when the business deals with multiple foreign currencies and uses services from various banks.

Features

The system automatically updates exchange rates from the Bank for Foreign Trade of Vietnam (Vietcombank VCB) for the currencies currently activated. It automatically updates the exchange rates periodically every hour, including Buy/Sell/Transfer rates, with the last update timestamp recorded.

Benefits

  1. Time and Effort Saving
    • Exchange rates can change rapidly, and if not updated promptly, financial transactions or reports may become inaccurate.
    • With the automation feature, exchange rates will always be updated immediately when a change occurs, ensuring accuracy in all foreign exchange transactions.
    • This is especially critical for companies involved in international trade or complex financial activities.
  2. Enhanced Transparency and Efficiency
    • The automation feature brings transparency to exchange rate management.
    • Exchange rates are fetched from reputable banks and automatically updated by the system, making financial management easier and more accurate.
  3. Enabling Accurate Decision-Making
    • When exchange rates are always accurate and updated in real-time, businesses can make more informed financial decisions.
    • Relying on real, accurate data helps minimize investment risks and enhances business efficiency.

Editions Supported

  1. Community Edition
  2. Enterprise Edition

Installation

  1. Navigate to Apps.
  2. Search with keyword viin_auto_currency_rate_vcb.
  3. Press Install.

Note:

  • After installing the viin_auto_currency_rate_vcb module, the Viindoo Invoicing app will also be automatically installed.
  • Install the Contacts app to create bank information.

Instructions

Instruction video: Automatic Currency Rates Update VietcomBank

Step 1: Create a bank account, and activate the automatic currency rates update feature. There are 02 methods to create a new bank account:

  • Method 01: Navigate to the Contacts app > Configuration > Banks, press Create. If you are using the Contacts app, you can see the list of banks that you have just created.
Create a new Vietcombank account from the Contacts app
  • Method 02: Navigate to the Invoicing app > Configuration > Add a Bank Account to create a new bank account. In case you are not using the Contacts app, the person in charge of the accounting department can create a new bank account from the Invoicing app.
Create a new Vietcombank account from Invoicing app

Step 2: Enable multi-currencies feature.

Activate multi-currencies feature in Viindoo

Step 3: Check the periodically updated exchange rates.

Check periodically updated exchange rates

By default, the exchange rate is updated once every hour.

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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