Page 1 of 1

Display different currency in one base currency

Posted: Thu Sep 17, 2020 1:40 pm
by adamlylegallagher

I feel like I'm missing something or not understanding something about the currency feature.

I understand that you can set a specific currency for each account and mmex can download conversion rates and that's all good. But I don't understand the point of that?

For example, I set up a stock portfolio, added a new stock investment, added shares to that company and set the account to the actual currency that I used to purchase them (USD). My base currency is set to CAD, but it seems like the only thing that setting the currency does is add "USD" in front of the Account Bal, Reconciled Bal, and Diff at the top of the Account view.

I've looked and looked for options that I assume should exist where mmex will convert the currency in some view to my base currency so that I'm looking at a total value in my currency, but I can't find any options to change the view.

I figured mmex would use the downloaded currency conversion rates so that it would convert the grand total in the stock portfolio view to show in my base currency. if it doesn't do that then I totally don't understand the point of downloading the currency conversion rates into mmex, what do those numbers do?


Re: Display different currency in one base currency

Posted: Thu Sep 17, 2020 8:32 pm
by siowena
The account view is always in the currency of the account.

So if have two accounts, 1 USD & 1 CAD and your base currency is CAD then when you look at the account views the values at the top are displaying the currency the account is set to.

Once you look at consolidated views, (home page totals, budgets, built in reports) it should display all values in CAD. Wherever there is account specific information it usually displays that in the account's currency. Wherever the figures come from two different accounts, then the value displayed is in the base current with other currencies converted into base currency.

So if you put 100 deposit in each account, then each account shows a balance of 100.

On the home page the values would be Bank Acc. 1 = $ 100 and Bank Acc 2 = 100 CAD, but the bank account section subtotal will be 231.52 CAD
If you set a budget of, for example, Shares: Dividends then the value entered has to be CAD. So if you expect dividends on the investment of 100$ and 100CAD then you should set the budget to 231.52 CAD.

Re: Display different currency in one base currency

Posted: Thu Sep 17, 2020 9:30 pm
by adamlylegallagher
ok, cool, thanks for the reply. So that sounds like what I want it to do.

I tested it out and you are right, I created 2 new cash accounts, bank 1 and bank 2, one in CAD and the other in USD and deposited 100 in each, then in the home page it shows me 100 and USD 100, BUT, the total of ALL Cash Accounts was $231.91 so that makes sense.

I can't figure out why it doesn't work for my "Stocks" I thought I set it up the way mmex intended,

I created a new account, set type of account to "investment". it then showed under the Stock Portfolio on the left side and I selected it, clicked the "new" button which brought up a "New Stock investment" window, I filled in the required info and clicked save, it then prompted me to create a new "Share Account" which I did.

Then for each share account I created I set to either CAD or USD, I only own a few stocks, 2 in USD and 3 in CAD.

BUT in my home page, in the "Stock" section, the total of that portfolio is simply adding the numbers together, lets say I own these stocks:

UUD = 1000
TTH = 2000
EEC = 2000 USD
OOP = 3000 USD
AAA = 1000

in the home page, in the total column for my portfolio it is showing $9000
and even below that in the total for all the stock portfolios it is showing $9000

I guess the reply might simply be that the currency conversion doesn't work for stocks?


Re: Display different currency in one base currency

Posted: Thu Sep 17, 2020 9:41 pm
by adamlylegallagher
Well after seeing it work in your example and after writing out my reply I realized it might be because I combined share accounts with different currencies into one portfolio and expected the portfolio to show up in my base currency. So I created 2 new portfolios, one in CAD and the other in USD and used the move button to move the share accounts into the correct currency portfolio. Now the grand total for all the stocks on the home page shows me a grand total in my base currency. I'm glad it had that move button, that made fixing this pretty easy.

thanks for the help.