Fix currency exchange rate matching
Currency exchange rates can't be correctly entered in between high denomination currencies and low denomination currencies.
I am having problems in between IDR and HKD. None of those transactions can be matched because your exchange rate does not contain enough decimals.
As a results I can't:
- Enter costs correctly
- Match transfers
- Consolidate accounts
- Close accounts
- Create correct reporting
In short your software is completely useless without this being fixed. Please contact me for more details. I have been talking with your support back and forward for 6 full months without this being fixed. Consider as urgent!
Alberto Castillo commented
Same problem for companies imp/exp with Central America
Agreed and it should be a simple fix
Because of this dynamic, many countries here in Africa list the exchange rate inversely. i.e. $1 = MWK 716 instead of MWK 1 = USD 0.001396. Can we get the option to enter rates in whichever method is standard in that country?
South Korean Won
By that token, the same thing goes for decimals in higher currencies. Smaller amounts in a low denomination currency can not be added because they amount to 0.00 USD and an error saying the exchange rate must be positive comes up with no way to force the transaction even with a 0.00 USD amount total
Same issue! With most Latin American currencies!
Since this bug has been first reported QBO has made three attempts to cover up the defective multi-currency support. Currently it appears as if there is no problem when matching transactions. However when you open your reporting you will find the the numbers in the reports are still incorrect. QBO has spent the last 5 months excusing themselves for not having a release date for a fix. It is safe to assume they have no intention of ever fixing it. I recommend you use Xero if you are looking for a functional multi-currency solution.
Kelvin Windsor commented
I have the same issue as above with VND. It would be great to more decimals and/or have the option of entering the exchange rate in VND.
Alternatively having an option that would allow me to enter the actual amount received in my currency and calculate the resulting exchange rate.
Please also consider this request as urgent