In v2015 a euro invoice of €1038679 @ 0.725 shows a control account posting of £753042.46
In v2015 posting a payment for €1038679 @0.70 shows a control account posting of £727075.30
You would therefore expect the currency gain to be £753042.46-£727075.30= £25967.16
But it is not because the calculation the system makes is €1038679 / (1/0.7 to 6 d.p) i.e. 1038679 / 1.428571 = £727075.52
The currency gain is therefore £753042.46-£727075.52= £25966.94
The postings to the control account are therefore:-
£753042.46 Cr
£727075.30 Dr
£25966.94 Dr
Total £0.22
The same transaction posted with the same Euro rate in v2013 shows a control account posting of £753042.28
The same payment posted in v2013 results in a control account posting of £727075.30
And the same exchange difference of £25966.94
The postings to the control account are therefore:-
£753042.28 Cr
£727075.30 Dr
£25966.94 Dr
Total £0.04
So both versions are wrong in different ways. Although the differences are usually small they add up and make it practically impossible to reconcile the control account
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