Hi I'm trying to create a transfer of funds transaction, transferring AUD to USD, but the transaction result amounts don't correspond to the bank statement.
From AUD Bank Acc
To USD Bank Acc
Amount = A$61.73
Exchange rate = 0.664.
As per bank statment this transfer equates to US$36.41.
Examples of Entering and their results
#1: From AUD, To USD, Exchange Rate 0.664, Amt A$61.73, Transfer Currency AUD
Result: AUD account A$61.73, USD account US$92.97 (instead of $36.41)
#2: From AUD, To USD, Exchange Rate 0.664, Amt US$36.41, Transfer Currency USD
Result: AUD account A$24.18 (instead of 61.73), USD account US$36.41
#3: From AUD, To USD, Exchange Rate 1.506 (estimated equivalent to 0.664), Amt US$36.41, Transfer Currency USD
Result: AUD account A$54.83 (instead of 61.73), USD account US$36.41
#4: From AUD, To USD, Exchange Rate 1.506 (estimated equivalent to 0.664), Amt A$61.73, Transfer Currency AUD
Result: AUD account A$61.73 (instead of 61.73), USD account US$40.99
I also find if I try to go back into the transaction and try to change the Exchange Rate I receive a message saying that the exchange rate must be equal to 1, eventhough the previously saved exchange rate was, say 1.506. So then I have to delete the transaction and try again as it won't let me do any substantive changes.
I'm clearly missing something from a logic perspective. Can anyone give me some insight about what I may be doing wrong?
I understand this is only a small amount. But I am working with many transactions and would like to get to the bottom of this if possible.
Many thanks in advance for your support, Lee
