Given that there appears to be nothing that stw can’t answer it might be worth checking something with the accountants here. Non accountants might find there are more interesting threads elsewhere 🙂
I’m running multicurrency accounts and am looking at how to book transfers between two currencies. So, home currency is DKK but I need to book a transfer between a EUR and USD account. You can’t do the transfer directly as it doesn’t involve the home currency so you have to go through and intermediate DKK account. So far so good. The problem is that I can see two ways of doing it and I’m wondering which is the preferred way:
1. Book a EUR->DKK transaction at the correct EUR/DKK exchange rate and then book a DKK->USD transaction but at a ‘funny’ rate that makes the end EUR/USD rate correct
2. Book a EUR->DKK transaction at the correct EUR/DKK rate, a DKK->USD transaction at the correct rate then add an exchange rate gain/loss transaction to make the whole thing balance.
It there a preferred method or even other possibilities?
Should I actually be using bombers or just get McMoonter in to fix it?