Proper accounting for securities bought in foreign currencies

UxR's Avatar

UxR

12 May, 2018 06:24 PM

Hi,

How does one account for the stock purchase in the following scenario:
- MoneyDance base currency is GBP
- Investment Account base security is GBP
- Commission fee paid to the broker is in GBP
- Stock valued in USD and the transaction is executed in USD
- Conversion GBP>USD done by the broker at the point of transaction execution

I bought shares of a company in USD at $199 each with £5 commission paid to the broker last week. I can't for the life of me figure out where I put in $199 as a security purchase cost. MoneyDance is forcing me to put in a GBP cost (cca. £147), presumingly as that is the investment account currency and is what the broker debited my account with in the end.

It seems that there should have been an option to assign a 'base currency' to each security that isn't there?

Thanks for any help in advance.

  1. System closed this discussion on 11 Aug, 2018 06:30 PM.

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