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| Detailed explanation on how multiple currencies work https://www.splasmstrands.com.splasm.com/viewtopic.php?f=3&t=4772 |
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| Author: | jakoeshall [ Fri Aug 02, 2013 1:35 pm ] |
| Post subject: | Detailed explanation on how multiple currencies work |
Dear Splasm Folks, We work with multiple currencies all the time. It seems the only way to adjust exchange rates is by editing it in all accounts. What does this do? Does it change the exchange rate from that date forward? Or does it adjust all including previous entries? |
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| Author: | Allan W. [ Mon Aug 05, 2013 5:01 pm ] |
| Post subject: | Re: Detailed explanation on how multiple currencies work |
Adjusting an exchange rate within an existing Currency just affects things for moving forward with regard to Entries that are linked (transfers) between Accounts that use differing Currencies. It won't be necessary to continually make exchange rate changes within the Currency settings in All Accounts, though, because the Exchange Rate Helper makes it possible to refactor exchange rates as transfers between Accounts of differing Currencies are input. Concerning past Entry Amounts, those remain constant even as exchange rates fluctuate because, at the time of spending, that amount was what was truly spent in that Currency and so shouldn't retroactively require adjustment. |
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| Author: | jakoeshall [ Mon Sep 02, 2013 5:29 am ] |
| Post subject: | Re: Detailed explanation on how multiple currencies work |
Hey. Thanks for your explanation. Tell me more about the Exchange Rate Helper. Its the first time I've heard of it, and I can't find any other information anywhere on your website nor is it readily apparent in Checkbook Pro. So, if you can point us in the right direction, that would be tremendously helpful. Thanks. John K |
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