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Author	Topic: Currency Conversion
mhumble Member	posted 12-19-2000 12:32 PM It would be nice to have a way to establish an exchange rate for a group of transactions to be entered in a different currency so that they could be automatically converted back to dollars, rather than having to use a calculator to do it for each entry separately. IP: Logged
John Administrator	posted 12-19-2000 01:38 PM How about an automatic entry with a global factor? Global factor similar to tax rate #1 where it could be changed once for all automatic entries using that same factor. But like Enter amount times a factor when an amount is entered and then multiplied by a factor before going to the transaction amount. Comments? IP: Logged
mhumble Member	posted 01-06-2001 11:15 AM Could an automatic entry accomodate the fields that would normally appear in a transaction? In particular, would a special payee name need to be used to invoke the automatic entry? ------------------ IP: Logged
John Administrator	posted 01-08-2001 08:08 AM A special payee could be used. But any payee could be used for the transaction. The real problem is changing the factor for the currency conversion. If only one payee was used for all currency conversions then the factor would only need to be changed in one place. If several payees are used then the automatic entry would need to be changed for each one to change the factor. Use the action "Enter amount X factor". Enter the conversion rate as the factor. A future improvement would be to allow for global factors to be used with the action "Enter amount x factor. This would be similiar to the actions "tax rate #1 with balance limit", where the tax rate is entered only once. IP: Logged
williams Member	posted 01-22-2001 08:04 PM We're moving to London this summer and will have accounts denominated in both dollars and pounds sterling. Can FN handle this situation? Suggestions? Thanks, Mark IP: Logged
John Administrator	posted 01-23-2001 08:22 AM Currently FN does not support multiple currencies in the same data file. You can use FN with different currencies but not in the same file. There are not currency conversion factors. Several possible solution exist: 1) Setup a separate set of data files for the accounts in pounds as the accounts in dollars. 2) Convert the transactions amount to dollars when the transactions are recorded. These solutions depend on the number of transactions and length of time. Also depends on the other assets held in pounds. IP: Logged

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