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Exchange Rates for the Czech Republic (ČNB)

Downloads the Czech National Bank's daily exchange rate, sets the provider up for you, and supports a fixed monthly rate with the actual daily rates kept for the year-end revaluation.

What it is for

A Czech company keeping its books in Czech crowns converts foreign-currency documents at the exchange rate announced by Česká národní banka (ČNB, kurz devizového trhu). Odoo's standard ECB service gives a different number, so this module adds ČNB as a source to the OCA rate-update framework (currency_rate_update) and:

• creates the ČNB provider for you when it is installed;
• reads whole ranges of past dates correctly, one ČNB yearly file per year;
• supports a fixed monthly rate (pevný kurz) for companies that use one, while keeping the actual daily rates for the balance-sheet revaluation.

It works on Community and Enterprise alike.

Legal background

• Accounting. Foreign-currency assets and liabilities are converted at the obecný kurz — the rate the central bank of the accounting currency (for crowns, ČNB) announces for the day of conversion — both when the transaction is booked and at the balance-sheet date. For the transaction date a company may instead use a fixed rate: the rate announced for the first day of a period the company chooses in an internal rule, ending at the latest on the last day of the accounting period. Banks, insurers and some other regulated entities may not use a fixed rate. See § 24c and § 24d of the Accounting Act.
• VAT. A foreign-currency amount is converted at the rate valid for the person converting it on the day the tax becomes due — the ČNB rate or the ECB reference rate. See § 4 odst. 8 of the VAT Act. A company on a fixed accounting rate therefore uses that rate for VAT too.

What installation sets up

On installation, every company whose country (or fiscal country) is the Czech Republic gets a Česká národní banka provider, provided the database already has at least one active foreign currency that ČNB publishes. The provider:

• quotes the currencies already active in the database that ČNB publishes, never the company's own currency — it does not activate new ones;
• runs daily, in Daily rate mode;
• has Fill non-publishing days switched on when currency_rate_update_sk is also installed (that option belongs to it).

A company that already has a ČNB provider, even an archived one, is left alone. A company with no active foreign currency gets no provider.

The providers are listed in Accounting → Configuration → Currency Rates Providers — on Community without full accounting the root menu reads Invoicing. The screen comes from the OCA module and, like this module's own fields, shows in English.

If you activate a currency after installation and the list is still empty, create the provider yourself: New, Provider = Česká národní banka, pick the Currencies, leave the interval at 1 day, save. The list also has a button, Create the Czech default provider, shown even when the list is empty; it creates only what is missing and needs Settings rights. (With the Slovak module also installed, the list shows only one of the two buttons; the other stays in the Actions menu of a selected row.)

Automatic downloads also need Automatic Currency Rates (OCA) ticked in Accounting → Configuration → Settings, block Currencies (ticked by default).

Daily rate

In the default mode, ČNB rate = Daily rate (denní kurz), every ČNB fixing is stored under its own date (Accounting → Configuration → Currencies). A document takes the newest rate dated on or before its date, which on a weekend or public holiday is the last fixing before it.

To load past rates, open the provider, click Update Rates Now and choose the Start Date and End Date. A range is read from ČNB's yearly files, so every fixing day in it is stored, not just the last one. If the range starts on a weekend or holiday, the last fixing before it is stored too.

ČNB quotes some currencies per 100 units (HUF, JPY and others); the module converts them, so the stored rate is always per one unit.

Fixed monthly rate

Set ČNB rate = Fixed monthly rate (pevný kurz) on the provider if your internal rule says documents are converted at one rate per month. Then:

• one rate per month is stored, dated the 1st, and Odoo applies it to every document of that month;
• Fixed rate taken from chooses which fixing that is:

The two differ only when the 1st is itself a fixing day. The Accounting Act defines the fixed rate as the rate announced for the first day of the period, so agree the second option with your accountant before choosing it.

• the actual daily fixings are kept apart. They do not appear among the currency's rates and no document uses them. They are read only by the Czech year-end revaluation, l10n_cz_currency_revaluation, because the balance sheet is revalued at the rate of its own day, not the fixed one.

Switching an existing provider to the monthly mode does not delete the daily rates it has already stored. Delete them for the months that should use the fixed rate, or documents in those months keep taking the daily ones.

Limitations

• The fixed rate is always monthly. The Act lets a company choose a different period in its internal rule; any other period has to be maintained by hand.
• The actual daily rates are used only by l10n_cz_currency_revaluation (the OCA-based revaluation). Odoo Enterprise's own revaluation and any other report see the fixed rate.
• Only the ČNB kurz devizového trhu currencies are downloaded (about thirty). The rates ČNB announces monthly for other currencies (kurzy ostatních měn) are not.
• A provider is created automatically only on installation. Currencies activated later are not added to an existing provider.