Managing foreign currencies is not simple for sales and purchases. Indeed, managing categories and products may be more complex, but it permits better accounting practices. 

Even if GEM-CAR is not multi-currencies per se, here are some tips to help you with exchange rates.

You should set one category associated to a ledger code for each currency. 
Ex :
Parts categories:
    • 200 = CFA
    • 260 = USA
    • 280 = EUR

Situation A : Small exchange rate ; Euro, USA, Livre, etc.. 
Situation B : Big exchange rate: 1 $  = 2000 CFA 
  • Price matrix for cost price conversion with price in CFA
    • USA 99.96 (rate of 2500 for 1 US $)
    • EURO 99.97 (rate of 3333 CFA for 1 EURO )
  • Assign an additional margin to the category

Price matrix for a margin with 4 digits is in force (a change is in development and will be available with version 13.0.3 )

Make sure to have adjusted the sale price for your base currency.

Step 1 :  Categories management

Create new categories for the sale with GL codes for each currency.

Examples of categories : 
  • GL : Parts sale in Euro  - Ex 5850
  • GL : Parts sales in US   - Ex 5855
  • GL : Workforce sales in Euro  - Ex 5950
  • GL : Workforce sales in US - Ex 5955
Step 2 : Products management
  • Yes, this implies to create product duplicates.

Step 3 : Price cost and stock management
  • For products in inventory, you must set the price cost in local currency and transfer the stock to be sold in the inventory. 
  • If you forget this step of the transfer, you will have an item A at $10 US with a quantity of 1 and an item B with a cost price of 15 CAD with a quantity of -1.
Step 4 : Validation and invoice