Increase the number of decimals for FX conversion rates
We work on an organisation dealing with two currencies: USD and LAK (Lao kip), the base currency being USD.
The USDLAK exchange rate is in the 10,000 order of magnitude, meaning that the LAKUSD rate needs a lot of decimals for all conversions to remain accurate.
Example: Current USDLAK = 8,160
A LAK 1,000,000 amount should be booked as USD 122.55
Right now it is being booked at USD 123 because Zoho caps the number of decimals in the exchange rate to 6.
To be safe with LAKUSD we would need at least 8 decimals.
My question is: would it be possible to either increase the number of FX rates decimals across the board, or (even better), let us choose how many decimals we want to use for a given FX pair.
Currently this limitation forces us to encode tons of tiny FX adjustments just because Zoho scraps the roundings.
Please let us know whether this would be possible and in what time frames?
Thanks very much.
P.S. Imagine if we were doing business in Zimbabwe...
F Javier Peraza commented
Agree. I am having the same problem with VND. It leds to incorrect amounts
Yes I agree. I'm having trouble with USD->IDR, it can be more than a hundred dollars incorrect sometimes for large transactions.
Increase the decimal places for Exchange rates - 6dp is too few, this in not in line with banks currency conversion.