Re: what people would like to see; was (no subject)

On Fri, Oct 18, 2002 at 01:30:32AM -0600, Joseph wrote:

> One thing I would like to see is truly multi-currency accounting system.

> I'll try to be as short as possible.
> We sell our products Internationally, so our preference is to keep
> prices in USD.  Our inventory is in USD as well and it stays this way,
> as some prices are sensitive so converting it to local currency
> (Canadian Dollar) would generate a loss as difference between selling
> and buying USD is about 0.08 on each dollar (our loss).

I am in the US so my view may be skewed.
Accounting here is based on the stable currency precept.  
That implies books kept in one currency.

Are you maintaining accounts in both currencies?

Are you banking and disbursing both currencies?

I am confused as to what you are doing and what you wish to do.

Real desires are sometimes difficult to formulate as practice is a
compromise between the accountants, the bookkeeping program, the
bookkeepers, and the principals.  And none of these have enough of
the picture to do more than modify current practice a bit.

> In addition if we generate a PO it is in USD so the pricing stays the
> same.  

> We sell and buy our products in USD to many Canadian customer as well,
> so we need to manually make an adjustment to (tax) GST.

This seems not a currency issue.

Would you accept $CA against such a bill?




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