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I keep getting this error when i try to make payments in odoo 15: " You should configure your exchange gain or loss journal in your company settings to manage automatically the booking of accounting entries related to differences between the exchange rates".

I have tried a number of suggestions on the internet but they all don't seem to work. I use 2 currencies in odoo with the USD being my base currency. Is there anything i can do about this?

Nate
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1 Answers1

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To manage exchange gain or loss you have to have two accounts and exchange journal and Odoo created theme by default if you used Generic chart of account and you can create theme manually as well as below:

  1. Foreign Exchange Loss: Its an expense account and you can create it from chart of account with the below values:
  • Code: Use the code start with 6 and you can see the last number start with six for example (641000).
  • Name: Foreign Exchange Loss
  • Type: Expenses
  1. Foreign Exchange Gain: This is an income account and you can create it from chart of account with the below values:
  • Code: Use the code start with 4 and you can see the last number start with four for example (441000)
  • Name: Foreign Exchange Gain
  • Type: Income

After creating the account, create a new journal from Accounting App-> Configurations -> Journals

  • Name: Exchange Difference
  • Type: Miscellaneous
  • Short Code: EXCH

Once you created the journal go to Accounting -> Configurations -> Settings and under the default accounts section, you will find Post Exchange difference entries in: under it set the below:

  • Journal: select the above created journal
  • Gain Account: Select the above created Gain account.
  • Loss Account: Select the above created Loss account.

Then save the configuration.

Waleed Mohsen
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  • I appreciate your response but is this procedure for odoo version 15 ? I cant seem to find the "Post Exchange difference entries" option in the settings – Nate Apr 05 '22 at 11:15
  • I am getting the same issue, I installed the generic accounting, still not getting the default accounts. – omeraiman Aug 23 '22 at 12:41