locked
Change Base Currency RRS feed

  • Question

  • Hi I have just input a years worth of invoices and have just realised that I have input them all using the wrong currency.  Is there any way I can change the currency of items I have already input using an average exchange rate?

    Thanks in advance.

     

    Wednesday, November 10, 2010 9:08 AM

All replies

  • Interesting question.

    Have no clue.

    Wonder one thing: If you inadvertantly entered, say, $100.00 in a file/account set to, say, CAD$, but really we're entering a AUS$100.00 amount, why would you want to CONVERT that to a different AUS$ amount rather than having the same $100.00 amount but just with the units being AUS$?

    What I'd try, in a copy or multiple copies, just to see what happened: change base currency for the entire file. What's it do to the account registers? My bet is they stay in whatever currency they were in when you started. Next try: change currency for the account. Big Q: does it convert the transaction amounts to the new currency?

    Wednesday, November 10, 2010 11:56 AM
    Moderator
  • If you convert the base currency for an account to another currency, you get the option to retain the original amounts or to convert them using the currently configured exchange rate. Given that exchange rates are constantly changing, it is to be hoped that the former is required, or the true values could be considerably adrift.



    <Dick Watson> wrote in message news:7e51252a-7753-403e-b176-161b0b466519@communitybridge.codeplex.com...

    Interesting question.

    Have no clue.

    Wonder one thing: If you inadvertantly entered, say, $100.00 in a file/account set to, say, CAD$, but really we're entering a AUS$100.00 amount, why would you want to CONVERT that to a different AUS$ amount rather than having the same $100.00 amount but just with the units being AUS$?

    What I'd try, in a copy or multiple copies, just to see what happened: change base currency for the entire file. What's it do to the account registers? My bet is they stay in whatever currency they were in when you started. Next try: change currency for the account. Big Q: does it convert the transaction amounts to the new currency?


    Graham Mayor - Word MVP
    www.gmayor.com
    Posted via the Communities Bridge
    http://communitybridge.codeplex.com/
    Wednesday, November 10, 2010 12:12 PM
  • Great post. Thanks for the information. I'd never tried it and wasn't up for setting up a test case in the wee hours of the morning. FWIW, changing the base currency of the file itself leaves the accounts at the currency they were created with. I.e., the accounts have a currency even if it's the same as the "base currency".
    Thursday, November 11, 2010 3:39 AM
    Moderator