Our base currency is INR, but we are sending an invoice in USG and GBP. At the time of sales order creation, ERPNext is doing currency conversion. Instead of that, we want to do currency conversion at the time of payment entry, and we need to add the conversion rate shown in the bank statement.
How can we do it?
If you can see Zoho Books, then they are offering similar options. Based on Customer currency, you can send an invoice, and at the time of payment entry, you need to add currency conversion rate.
If you are billing to this customer always in USD or GBP currency, you can create a receivable account also in USD or GBP. When you create the invoice, you will give the currency exchange rate of that day and when you do the payment, you will be able to give the exchange rate based on bank statement. The difference should be passed as gain or loss.
ERPNext requires you to enter the conversion because it tracks the equivalent amount in company currency as well.
You can go around this by entering a stale exchange rate and making sure it doesn’t fetch updated one.
You will be able to update the exchange rate at the time of payment entry, but not remove it during order/invoice.