Operation in currency

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Cobra
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Operation in currency

Post by Cobra »

I'm working in EUR and this is main currency.
Some operation are in USD, so I need to insert the current value with the change at the date of operation.
How should I enter the amount?

I also do not understand the currency management.
Here I can only select the main currency and I do not see how to use them separately in the operations.
So, what is the usefulness of the updates of the currencies?

Thanks in advance
Thanks in advance for any advice and help.

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Nikolay
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Re: Operation in currency

Post by Nikolay »

Some avcounts should be in EUR, other in USD.

storemanuk
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Re: Operation in currency

Post by storemanuk »

My main currency is GBP but I have a pre-paid card in USD ready for an upcoming holiday. I add £50 to this card whenever I have some spare cash. On the card account I set up a transfer transaction to the card from a cheque account and enter the dollar amount the transaction added to the card. Money manager will use the exchange rate (if updated) to deduct the GBP amount from the cheque account. The online exchange rate might differ though as in my case, the card provider gives a lower exchange rate than the rate downloaded so the debit from the cheque account is less than the actual payment of £50. As my accounts are purely personal I can work around this by adding a psuedo transaction for the difference with a note explaining the purpose of the transaction. May not be ideal for a business but you can manually enter the exchange rate if necessary.

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