Odoo 14 book

Exchange gain or loss journal

This option helps to record the difference between the payment registration and the expected amount. We can take an example. Suppose, the instalment is paid one month after the receipt was issued, the chances are high that the conversion/exchange scale would have changed considerably. The fluctuation infers some misfortune or benefits. Such events are recorded by Odoo.

Odoo provides us with different options like Miscellaneous Operation, Exchange Difference, Cash Basis Tax Journal, Stock Journal. A user is also able to CREATE AND EDIT new one.

Automatic Currency Rates in Odoo

By default, the currencies have to be changed manually in an ERP solution. However, using Odoo, a user can synchronize currencies with different exchange service like Yahoo, Europe Central Bank and more to get automatic currency rates.

A user can also set the interval for conversion. The interval can be set as Manually, Daily, Weekly or Monthly.

Click SAVE to mark the changes.