Add global flag to permit inversion of exchange rate calculation
DEAR Inventory does not follow finance industry standards with Exchange rates in Australia. The industry rule is that if you input a foreign currency, you divide by the exchange rate. DEAR requires you to calculate the inverse of the exchange rate before entering it. This is time wasting and prone top error.
So today the USD rate is quoted at around 0.6900. To convert USD 100 to AUD the calculation required is 100/ 0.6900 = AUD 144.93
To enter this in DEAR, you need to first calculate the inverse of the rate being 1/0.0069 = 1.4493.
We should be able to simply enter the rate quoted by our bank, Paypal or Western Union without the intermediate calculation that is now required.
1 person likes this idea