This feature will be deprecated in the future. For multi-currency transactions, we recommend using the Currency Exchange approach instead.
rate
field.
Important: Avoid applying rates to transactions within the same currency, as it is unnecessary and redundant.
1. Applying rates
Consider a transaction record sending USD 2,290.19 from a USD balance to a GBP balance. The first thing is to calculate the exchange rate value against thesource
, i.e., by how much should you multiply the transaction amount to convert from the source’s currency to the destination’s currency.
In our example, 1 USD = 0.79 GBP. This means "rate": 0.79
.
Request
Failing to specify a
rate
value for transactions between currencies can result in incorrect destination balances and ledger discrepancies. Always include an exchange rate to ensure accuracy.What happens next
- Blnk applies the rate to the transaction amount: 2290.19 * 0.79 = 1803.09
- Blnk applies the precision to the converted amount: 1803.09 * 100 = 180309
- Blnk records the amount as
180309
inbal_gbp
, and229019
inbal_usd
and computes their balances.