Default Odoo takes exchange rate from the currency configuration/menu and change currency rate daily process is very hard that change currency rate everyday from currency menu for each currency. With help of this Odoo apps you will have option to set Currency Exchange Rates manually/directly on customer invoices, vendor bills, sales order, purchase order and account payment on each record and its cover whole workflow of Odoo ERP with apply manual currency exchange rates. After installing this Odoo module you will extra field to apply manual exchange rate on all documents(SO, PO, Invoices, Payments) after apply manual exchange rate everything converted with this applied manual exchange rate i.e product price change on order lines and invoice line, accounting entries generated with this assigned exchange rate.
This Odoo apps provide unique feature for Currency Exchange Rate Update manually for different currency such as Dollar, Euro or almost all directly from the transaction records i.e sales purchase, invoice and payment. if you are using Odoo multi-currency working to provide invoices, sale order, purchase order to customers from different countries along with currency rates according to their country? For Odoo This module is designed to provide currency rate exchange in real time can be really useful Currency Exchange Rates in Odoo.
Features
1) Apply Manual Currency Exchange Rate
You can apply Manual Currency Exchange Rate according to Country.
2) Currency Amount in Journal Entry
Based on the invoices/bills related journal entries have selected exchange rate amount.
3) Apply different Currency of each Product in Sale Order
You can apply Manual Currency Exchange Rate for each product in Sale Order.
4) Currency Amount in Stock Journal Entry.
Based on the sale and purchase related stock journal entries have selected exchange rate amount.
Why Manual Currency Exchange Rates Are Important in Odoo
Businesses that work with international customers and suppliers often face challenges due to fluctuating exchange rates. The standard automatic currency conversion process may not always match the negotiated rates agreed upon with customers, vendors, or financial institutions. As a result, businesses may experience discrepancies between expected and actual transaction values.
The Manual Currency Exchange Rate module allows organizations to define exchange rates directly on business documents such as Sales Orders, Purchase Orders, Customer Invoices, Vendor Bills, Payments, and Expenses. This flexibility helps companies maintain accurate financial records and ensures that every transaction reflects the agreed exchange rate rather than relying solely on daily market updates.
For industries involved in import-export, consulting services, manufacturing, wholesale distribution, and international procurement, manual exchange rate management provides greater control over pricing, profitability, and accounting accuracy.
Benefits of Applying Manual Exchange Rates Across Business Documents
Managing currency rates manually at the transaction level provides several operational and financial advantages. Users can define the exact exchange rate required for a particular deal, ensuring consistency throughout the entire workflow.
Key benefits include:
Better control over foreign currency transactions.
Accurate customer invoicing based on negotiated exchange rates.
Consistent pricing between sales orders and invoices.
Improved purchase cost calculations for imported products.
Reliable accounting entries that reflect actual business agreements.
Reduced dependency on daily currency rate updates.
Better financial reporting for multinational operations.
Enhanced transparency during audits and account reconciliation.
By maintaining a single exchange rate throughout the transaction lifecycle, businesses can eliminate valuation differences that often occur when rates change between order creation and invoice generation.
Challenges of Automatic Currency Rate Updates in Daily Operations
Many organizations rely on Odoo's automatic currency rate mechanism to convert transactions between currencies. While this approach works well for general accounting purposes, it may not always meet specific business requirements. Exchange rates can change daily, and in some cases multiple times within a single day, creating inconsistencies between quotations, orders, invoices, and payments.
For example, a sales quotation may be agreed upon with a customer using a specific exchange rate, but by the time the invoice is generated, the currency rate may have changed. This difference can affect revenue calculations, profit margins, and customer expectations. Similar challenges occur during procurement processes when vendors negotiate prices using predetermined exchange rates.
The Manual Currency Exchange Rate module helps businesses overcome these limitations by allowing users to lock and apply the desired exchange rate directly on business transactions. This ensures that financial documents continue to reflect the agreed commercial terms regardless of market fluctuations.
Improved Financial Accuracy and Accounting Consistency
Accurate currency conversion is essential for maintaining reliable financial records. Even small variations in exchange rates can create significant differences when dealing with large transaction volumes or high-value international orders. These differences may impact profitability analysis, financial statements, tax reporting, and management decisions.
By allowing users to manually specify exchange rates on sales, purchases, invoices, payments, and expenses, the module ensures that accounting entries are generated using the intended conversion value. This reduces the risk of unexpected currency gains or losses caused by rate changes during the transaction lifecycle.
The module also helps finance teams maintain consistency between operational documents and accounting records. Since the selected exchange rate is applied across related processes, organizations can simplify reconciliation activities and improve the accuracy of financial reporting.
Product Price
User can see sale price and cost price in currency for product.
Currency Exchange Rate in Sale Order
While creating sales orders, User can select the pricelist to exchange the currency then enable "Apply Manual Exchange" option and enter "Rate" and this manual currency rate applied to the products price.
Currency Exchange Rate on Stock Valuation
User can see currency exchange rate on stock valuation for delivery order.
Currency Exchange Rate on Stock Journal Entry
User can see currency exchange rate on stock journal entry for delivery order.
Currency Exchange Rate on Customer Invoice
While creating customer invoices, User can enable "Apply Manual Exchange" option and enter "Rate" and this manual currency rate applied to the products. If user selected this option on sales order before then selected rate automatically applied, but user can also change it manually later.
Currency Exchange Rate in Purchase Order
While creating purchase orders, User can select the exchange currency then enable "Apply Manual Exchange" option and enter "Rate" and this manual currency rate applied to the products.
Currency Exchange Rate on Vendor Bill
While creating vendor bills, User can enable "Apply Manual Exchange" option and enter "Rate" and this manual currency rate applied to the products. If user selected this option on sales order before then selected rate automatically applied, but user can also change it manually later.
Currency Exchange Rate in My Expenses
User can apply manual currency rate and click on submit to manager button.
Inverted Rate Configuration
Under Accounting > Configuration >Settings menu user have to enable "Inverted Rate".
Currency Exchange Rate in Sale Order
While creating sales orders, User can select the pricelist to exchange the currency then enable "Apply Manual Exchange" option and enter "Rate" and this manual currency rate applied to the products price.
Currency Exchange Rate in Purchase Order
While creating purchase orders, User can select the exchange currency then enable "Apply Manual Exchange" option and enter "Rate" and this manual currency rate applied to the products.
Currency Exchange Rate in My Expenses
User can apply manual currency rate and click on submit to manager button.
Ideal Use Cases for Manual Currency Exchange Management
This module is particularly useful for organizations that regularly deal with multiple currencies and negotiated exchange rates. Many businesses receive rates directly from banks, financial institutions, customers, or suppliers that differ from standard market rates.
Common use cases include:
International trading companies.
Import and export businesses.
Manufacturing organizations sourcing materials globally.
Service providers billing overseas customers.
Companies managing foreign branch operations.
Organizations handling project-based international contracts.
Businesses requiring fixed exchange rates for long-term agreements.
By supporting transaction-specific currency rates, organizations can maintain greater financial accuracy and improve decision-making across departments.
Conclusion
The Manual Currency Exchange Rate on Invoice, Payment, Sale, and Purchase module enhances Odoo's multi-currency capabilities by providing complete control over exchange rate management. Users can define custom exchange rates directly on transactions, ensuring that sales, purchases, invoices, payments, expenses, stock valuation, and accounting entries all follow the intended conversion rate.
With improved flexibility, accurate financial reporting, and seamless workflow integration, this module helps businesses manage international operations more effectively while reducing the complexity associated with fluctuating currency markets. Organizations that frequently work with foreign currencies can significantly improve transaction accuracy, accounting consistency, and operational efficiency by implementing this solution.
