AGV
Exchange rates captured at the transaction, not at the evening reconciliation
The situation before
Rates changed several times a day while transactions were written on receipts and reconciled in the afternoon.
Small gaps between the rate at the moment of trade and the rate at reconciliation accumulated into a month end figure nobody could explain, and tracing a single transaction meant going through a stack of paper.
What we built
We built a system that records the rate at the moment the transaction happens rather than when someone gets round to reconciling.
Each transaction stores the rate used and its timestamp, so the daily reconciliation is read rather than recalculated. An audit trail was part of the foundation, because this line of business requires one.
What was handed over
- Rates captured at the point of trade
- Daily reconciliation read straight from the record
- A traceable audit trail for every transaction
Built with
- Laravel
- MySQL
More work
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