- Choosing to use the multi-currency option in Odoo will allow you to send sales invoices, quotes, and purchase orders or receive bills and payments in currencies other than your own.
- Users can configure multiple currencies for the transaction, set its exchange rate, and assign different currencies for individual partners and charts of accounts, run reports on their foreign currency activities.
- In the accounting module, Go to Configuration ‣ Settings and flag Allow multi-currencies, then click on Apply.
- Exchange Rate Difference Journal: It records the differences in payment registration and the expected amount. If we receive payment against an invoice after a month of invoice creation, the exchange rate most probably will be changed.
- This Rate Difference Journal is used to create journal entries of loss or profit caused by the difference in the currency exchange rate.
2. INTRODUCTION
❖ Choosing to use the multi-currency option in Odoo will allow you to send sales invoices, quotes,
and purchase orders or receive bills and payments in currencies other than your own.
❖ Users can configure multiple currencies for the transaction, set its exchange rate, and assign
different currencies for individual partners and charts of accounts, run reports on their foreign
currency activities.
❖ Odoo will allow you to send sales invoices, quotes, and purchase orders or receive bills and
payments in currencies other than the default/domestic currency.
3. ❖ Goto Accounting > Configuration > Settings
❖ Activate Main Currency and Automatic Currency Rates
❖ Click on Currencies
4.
5. ❖ Depending upon the requirement we can convert our company currency to other currencies
available.
❖ Goto Customers > Products
❖ Sales price and cost price are set in USD.
6. ❖ Goto Vendors > Open One > Sales & Purchase
❖ Set supplier currency as INR
7. ❖ Goto Vendors > Bills
❖ Click on Create
❖ Choose vendor for which we have set supplier currency and then find price is converted to
INR
20. ❖ Goto Reporting > Unrealized Currency Gains/Losses
❖ This report will display all open amounts on your balance sheet that need to be reevaluated.
21. For More
Details
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book.
Odoo Book V15
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videos in Odoo.
How to Manage Currencies in Odoo 15