Re: Invoice with two currencies`
- From: Grip <grip@xxxxxxxxxxxxx>
- Date: Wed, 16 Jul 2008 21:58:06 -0700 (PDT)
On Jul 14, 7:25 am, Buckbuck <buck.matthe...@xxxxxxxxx> wrote:
On Jul 14, 1:03 am, "Ursus" <ursus.k...@xxxxxxxxx> wrote:
I agree with Harry,
Just looking around on the internet you will find that the most companies
just offer an American Dollar price (or even a price in local currency)..
Some companies offer a hint in other currencies, but offer these as
guidelines only. The company that transfers the money does the exchange.. The
user should do his own math. You should however be clear in what currency
your goods are priced.
As to Europe: we have the euro now. There are 25 countries in the EU.
Countries that have joined the EruoZone are: Germany, Ireland, Netherlands,
Greece, Finland, Luxemburg, Austria, France, Belgium, Italy, Portugal,
Spain, Slovenia, Cyprus, Malta (15 countries)
Countries that haven't joined the EuroZone are: Denmark, Sweden, UK,
Estonia, Hongary, Latvia, Lithuania, Poland, Slowacia, Tsjechië, Romania,
Bulgaria (12 countries)
Some countries not mentiones are: Vatican (used Italian Lire, now Euro),
Monaco (Used the Franc, now Euro), San Marino (Lire, now Euro)
And some 20+ European countries not in the EU or the EuroZone.
Keep well, Ursus
"Helpful Harry" <helpful_ha...@xxxxxxxxxxxxxxxx> schreef in berichtnews:140720081822061190%helpful_harry@xxxxxxxxxxxxxxxxxxx
In article
<da47f85a-8c88-4dd8-b569-cfd4c9350...@xxxxxxxxxxxxxxxxxxxxxxxxxxxx>,
Buckbuck <buck.matthe...@xxxxxxxxx> wrote:
FM8.5
My business is now starting to sell in Europe. Currently I have an
Invoicing system based on dollars. Has anyone good advice on how to
set up my Invoicing system so that it can reflect other currencies?
Should I avoid formatting my fields and qualify the currency another
way?
Thanks
Matthew
You should probably leave all your invoices in dollars. Trying to play
in two currencies is going to get messy. (eg. summary reports would
have to work out what exchange rate to use to get only dollar amounts,
etc.). Besides, "Europe" is a big place with many different countries
and many different currencies, so that would get even messier.
BUT, if it's a VERY VERY simple invoice-only system, then you can
change the formatting of amount fields to be only two decimal places,
and then use a pop-up menu to give each incoive record the appropriate
symbol (you can then use copies or merge versions of the same field to
display the syumbol wherever needed) ... then the problem of cleaning
up the mess is transferred to your accounting system instead. :o)
Helpful Harry
Hopefully helping harassed humans happily handle handiwork hardships ;o)
Thanks to everyone for their thoughts on this. In my business my
prices do not fluctuate with the US exchange rate so fixing our
European prices in Euros is desired. We change the prices quarterly if
we are being hammered by a low currency. But even then one is somewhat
married to the rise and fall as a matter of stability with customers.
I have created / duplicated a second set of TABLES, INVOICE_EURO,
LINES_EURO and PRODUCT_EURO to manage this. The only problem so far is
that my CONTACTS TABLE, having a related portal showing Invoices pulls
Invoices from the INVOICES table and not the INVOICES_EURO table when
the Contact (Customer) is in Europe. Is it possible to direct the
TABLE selection in this portal via a discriminating function?
Thanks
Matthew
I don't think a separate invoices table is indicated here. How to set
this up depends a lot on your business logic. Do you know at the time
of invoice creation whether a payment will be made in dollars or
euros? Are there fixed prices in each (ie do you convert exactly based
on an exchange rate or say USD$100 or $160 euros)? Does the bill get
calculated based on the a quote or the conversion rate at the time of
service? If someone doesn't pay their Euro bill within the quarter,
does the price get re-calculated? Do you have a separate Products
table with prices that is the target of a lookup from a Line Items
table (or a Invoices table)? etc etc.
You simply need a couple additional fields that 1) determine whether a
client gets billed in USD or euros and 2) displays the price of the
product in euros, but where those fields go depends on your business
logic and your current architecture.
.
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