When transactions between base currency and foreign currency in Books are added programmatically, an exchange rate of 1 is assumed.
It seems like it would make far more sense to have the default exchange rate be whatever Books already has internally for that day's exchange rate. Is there a reason this is not the case?
My use case is that I have a merchant services account (Braintree) for my sales in foreign currency (CAD) that gives disbursements daily.
I've got a webhook set up to send the disbursement information to Zoho Flow. The flow parses the webhook information and then makes a bank transfer in Books between the Braintree CAD account and our bank account (in USD, which is our BCY).
It seems like this transaction should just use the default exchange rate, but because I didn't specify an exchange rate in the Flow, they all assume an exchange rate of 1. This is obviously not even close to reality.
I understand the workaround could be to make an API call to a third-party service to obtain the day's exchange rate and populate that in the Books action. But doesn't that seem like a both an unnecessary additional failure point as well as a waste of time and resources? Books already knows the exchange rate. If I would've entered the transaction manually, Books would've applied it automatically.
I would urge strongly that the Books API team changes the exchange rate default from 1 to whatever the Books system is already using for that particular currency's default exchange rate at the time of the transaction.