Multiple Currency Reporting

ralphhaibyralphhaiby Member Posts: 4

Hello,

Is there a way to record transaction in 2 currencies at the same time, using an exchange rate of our choice? (not the one used by xe.com)

so for example, let's say i bought a tshirt for 10$. Exchangee rate on xe would say the conversion to LBP would be 15,000 LBP although, in real life due to rapid inflation in Lebanon, i actually paid 50,000 LBP for that tshirt

In the current integration, wave will take the rate from xe, and therefore consider that i paid 15,000 LL for the tshirt, although I paid 50,000 for that same 10$

  • Is there a way for me to record both currency at the same time? a way for me to record that the tshirt costed me 10 usd and also record its counter value in lbp

  • and later on, can i see my reports in both currencies? one reflecting the real $ reports, and the other based on the LBP

Comments

  • JulianPJulianP Administrator Posts: 850 admin

    Hey @ralphhaiby! Thanks for reaching out on our Community forum. I'm afraid that you cannot record a transaction in 2 currencies at the same time in Wave. However, you can add the 2nd currency value as a note if you'd like. When it comes to the exchange rate, you are welcome to edit the value to something other than the default xe.com value. You can do this when creating a bill or when recording a payment for an invoice. You should be able to see an "Exchange rate" field that you can modify. For your reports, I'm afraid that you can only view them in the default currency you selected upon creating your business in Wave. However, you can manually convert the values displayed on your report to the currency of your choice as a workaround.

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