Financial Report Multicurrency

by
Odoo

107.27

v 11.0 Third Party 4
This module requires Odoo Enterprise Edition.
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Odoo Apps Dependencies Accounting and Finance (account_accountant)
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Invoicing Management (account_invoicing)
Lines of code 552
Technical Name account_financial_reports_multicurrency
LicenseOPL-1
Websitehttp://www.vauxoo.com
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Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies Accounting and Finance (account_accountant)
Discuss (mail)
Invoicing Management (account_invoicing)
Lines of code 552
Technical Name account_financial_reports_multicurrency
LicenseOPL-1
Websitehttp://www.vauxoo.com
Account Financial Reports Multicurrency
Make financial reports for your bussiness group using the IFRS standard for consolidations in foreign currencies.
SUMMARY

This module let you build the financial reports for your group of companies that operates in different currencies, preparing the consolidation of the statements of two or more companies based on the IFRS standard (www.ifrs.org/issued-standards/list-of-standards/ias-21-the-effects-of-changes-in-foreign-exchange-rates) that states:

For translation into the functional currency or into a presentation currency, the following procedures apply, except in limited circumstan.

  • Assets and liabilities are translated at the exchange rate at the end of the period;
  • Income and expenses are translated at exchange rates at the dates of the transactions; and
  • Resulting exchange differences are recognised in other comprehensive income and reclassified to profit or loss on disposal of the related foreign operation.
HOW TO CONFIGURE IT

Here we describe how you can configure your instance with an example. In this example we have two companies "Holding Company" and "Your Company", they operate in different functional currencies, EUR and USD respectively.

In "Your Company", the one with USD as functional currency, we have a ledger.

In "Holding Company", that is the Consolidating Company with EUR as functional currency, we have exchange rates for each currency.

For that we will create two new custom reports.

  1. Enable Multi-currency in your Odoo database at Accounting > Configuration > Settings.
  2. Activate technical options in Settings > Activate the developer mode to be able to create your custom report.
  3. Go to Accounting > Configuration > Financial Reports.
MY RECEIVABLES
  • Create a new Report and call it "My Receivables".
  • Uncheck the option "Based on date ranges".
  • Add a line to the report and call it Receivables, with next parameters:
    • Formula: balance = sum.balance
    • Domain: [('account_id', '=', '101200')]
    • Level: 1
MY INCOMES
  • Create a new Report and call it "My Incomes".
  • Uncheck the option "Based on date ranges".
  • Add a line to the report and call it Incomes, with next parameters:
    • Formula: balance = sum.credit
    • Domain: [('account_id', '=', '200000')]
    • Level: 1

Refresh your browser to be sure the reports was created at the Accounting > Reporting menu.

HOW TO USE IT

The next steps are based on the example reports configured in the above section.

For assets:

  1. Go to Accounting > Reporting > My Receivables (or whatever name you used for your report)
  2. In the filter options select:
  • Date: End of Last Quarter.
  • Comparison: Previous Period and set the number of periods to 3.

For Incomes:

  1. Go to Accounting > Reporting > My Incomes (or whatever name you used for your report)
  2. In the filter options select:
  • Date: Last Financial Year.
  • Comparison: Previous Period and set the number of periods to 3.

If your user is in "Holding Company" as the current company, select in the filters both companies, else use just "Your Company" in the filter.

Following the IAS 21 the expected values for the reports in the presentation currency (EUR):

GET TECHNICAL HELP & SUPPORT

In case of any issue, please report it in the channels below and we will fix it right-away
www.vauxoo.com/r/wlJ

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The module does not work
by
Jad Jebara
on 4/1/19, 7:38 PM

The module after getting installed gives the same numbers Odoo give. to translate the entities it uses the last update rate! We are trying to get support from the developers. We will update the review when we get support, but for now. I recommend against installing this product.


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