Creating foreign currency bank account: currency type not sticky

hako's Avatar

hako

24 Oct, 2019 03:21 PM

When I create a bank account with currency type "British Pound", it shows up in the left menu with currency symbol "Bs".
When I edit the new account, it shows currency type as "Venezuelan Bolivar", and it cannot be changed.
I've deleted and tried to recreate the account twice, each time with the same result.
I'm running MD 2019.3 (1880)

  1. Support Staff 1 Posted by Maddy on 24 Oct, 2019 03:29 PM

    Maddy's Avatar

    Hi Hako,
    Thank you for contacting Moneydance support.

    In Moneydance it is only possible to assign one base currency to an account.
    In your case you will need to choose the currency that is most in use or that you generally use as the base currency.
    To enter transactions with different currencies into the account, you will need to create categories that use the other currencies.

    For further details on creating categories, please refer to this article, "Create, edit or delete Categories"in the Knowledge Base.

    Also, it might be useful to see "Create, Edit or Delete Currencies" available here, as well.

    The steps for entering different currency transactions into E.g.: a Travel cash card are:

    Enter transaction, assign the correct currency category, this will unlock the foreign amount area in the transaction and display the exchange rate, lastly save the transaction.

    Finally, you should install the Quotes and Exchange Rates extension. To do this, choose Extensions --> Manage Extensions.
    To update currency rates, you can use AlphaVantage or European Central Bank.

    I hope this information is helpful. Please let me know if you have further questions or need any assistance.

    --
    Maddy, Infinite Kind Support

  2. 2 Posted by hako on 24 Oct, 2019 08:23 PM

    hako's Avatar

    I'm sorry if I wasn't clear enough. I'm not trying to assign multiple base currencies to an account. I'm trying to create a bank account whose currency type is "British Pound". The account creation dialog provides a way to select from a menu of currencies. I have done this successfully with two other bank accounts, one using Euro and one using Canadian Dollar. When I select "British Pound" as the currency type of a new bank account and I leave the default for all other properties, and hit OK, the currency type changes to "Venezuelan Bolivar".

    Never mind. As I was typing this response I went through the steps again, for the fourth time, and now I could not reproduce the problem.
    Sorry for erroneous error report.

  3. Support Staff 3 Posted by Maddy on 25 Oct, 2019 08:11 AM

    Maddy's Avatar

    Not at all!
    I'm very pleased to hear that, it you got this sorted in the end.
    I'll close this discussion for now, but do not hesitate to contact us again, if you need further assistance.

    --
    Maddy, Infinite Kind Support

  4. Maddy closed this discussion on 25 Oct, 2019 08:11 AM.

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