openerp-expert-accounting team mailing list archive

[Ivan Wirawan <niecw@xxxxxxxxxxxxxx>]

Dear all,

I would need a hint on how dual or multiple exchange rate is handled in 
OpenERP or if it can be handled at all.
In essence dual or multiple exchange rate, is where you have more than 
one exchange rate for the same currency.  In accounting we usually have 
commercial/book and spot/transaction rates, which I believe still can be 
handled in OpenERP though not with grace.  In our country, we have a 
third exchange rate for taxation purpose.

Example case would be:
A. Difference of commercial/book vs transaction rates:
The base currency is USD, an invoice (be it supplier or customer, does 
not really matter) is booked in EUR, say EUR 700.  At the transaction 
time, the exchange rate is 1 USD = 0.7 EUR.  So the transaction will be 
booked as USD 1000.  The invoice is to be paid in 3 payments.  First 
payment is 30%, 2nd payment is 50%, and 3rd is 20%.
Assuming that the first payment made in USD @ 1 USD = 0.75 EUR, it will 
be booked as USD 280
Suddenly something happen and cause the exchange rate to be 1 USD = 0.4 
EUR when the 2nd payment is made.
It is made in USD and thus will be booked as USD 875.
As the total payment in USD is more than the invoiced amount to pay, the 
invoice is closed by OpenERP irregardless to the fact that in EUR, it is 
still not closed.
I couldn't find a way to specify the equivalent value of the payment's 
transaction - which is made in USD - in EUR to avoid closing of the invoice.

B. Taxation rate
In our country (Indonesia), VAT of transactions made in forex is to be 
booked against a rate specified by the tax office irregardless of the 
commercial/spot rate.  So, an invoice (supplier/customer does not 
matter) of say USD 1,000 @ IDR 8500/USD will be booked as USD 1000 = IDR 
8500.  The VAT will be caculated as 10% * USD 1000 * tax_exchange_rate. 
The tax_exchange_rate, most of the time, will not be IDR 8500, but 
something like IDR 8550 or so.
I'm thinking of creating a different currency for the tax.  But couldn't 
figure out how to get it work.

Appreciate if I could be given hints on how those scenarios can be 
handled in OpenERP.

Many thanks,
- Ivan Wirawan