The Exchange Bot keeps with every transaction, the balance values of accounts in multiple currencies in sync. This avoids the need of manual replication or batch processes.

The Exchange Bot can calculate at any moment your unrealized FX gains and losses from the perspective of any currency in which you are operating, lowering risk and strengthening your FX decisions.

Create a Bkper book for each currency you operate in with a name and currency suffix (MyBusiness USD, MyBusiness EUR, MyBusiness JPY) and place all books together in a Collection with the name of the books without the suffix (MyBusiness).

Install on all the books in the collection the Exchange Bot and set the properties on these books required for the Exchange Bot to function properly.

Once the Exchange Bot is installed and properties are set on the Books in a Collection, Transactions will be mirrored in the books of the other currency(ies) according to the Exchange Rate at the moment of the Transaction.

Apply Transaction properties to change the standard behavior of the Exchange Bot. This is relevant for account consolidation, for example when there are differences in the exchange rates applied by the Banks and what the Exchange Bot retrieved at the moment of the Transaction.

The Context menu (More) on books where the Bot is installed have an Exchange Bot menu option that runs the exchange update process to calculates and record the Foreign Exchange Gains or Losses on your assets according to real time rates.

Standard behavior for the Exchange bot is to record the Exchange rates to liability accounts with the same name as the permanent account with the EXC suffix. These accounts are automatically created by the Bot and don't need to be added manually.

The behavior in conjunction with the Stockbot is different for Accounts that have the stock_exc_code set on their group. In the case of Assets that are traded by the stock bot the Unrealized and Realized FX gains and losses are recorded on Incoming type accounts because of their nature.

Exchange Bot Status

Gray: working properly

Red: error

No icon: not installed

1. Post a transaction in a Book of one Currency (USD).

e.g. 100 USD Bank account >> Accounts Payable

2. This Post Event Triggers the Exchange Bot.

3. The Exchange Bot figures out in what other currencies this transaction must be mirrored.

4. The Exchange Bot Fetches the current exchange rates for the other currencies.

5. The exchange bot Posts the same transaction in the other book(s) but in the currency of that book (EUR).

e.g. 98.50 USD Bank account >> Accounts Payable

Books And Collection

Create the Currency Books (at least two currencies)

Add all the Currency Books to one Bkper Collection

Install the Exchange Bot on all the Currency Books in the Collection.