Currencies are not accurately calculated

Andrey's Avatar

Andrey

14 Dec, 2021 01:08 AM

Hello,

I noticed that when I create an Investment Account which is in USD and a Checking account which is BGN, my Net Worth is inaccurately calculated. Also, I noticed that the currency representation for my bank account is wrong. Checking is -10,000lv, Savings 0.00lv and the total is calculated as $-10,000.
I wonder if I'm doing something wrong or if there is a bug in the currency pair? I'm using the latest version of the app.

I've attached two screenshot.

Thanks,
Andrey

  1. 1 Posted by dwg on 14 Dec, 2021 01:25 AM

    dwg's Avatar

    I'm a fellow user.

    The screen shots are suggesting that your base currency is set to USD, and that you have no exchange rates hence the software assumes an exchange rate of 1:1. These would explain what you are seeing,

    For totals Moneydance works out the value in the base currency by using the current exchange rate on the total of accounts not using this currency.

    To automatically download exchange rates in Moneydance we use what are known as extensions.

    There are two available:

    1. Quote and Exchange rate Exchange

    2. Quote Loader Extension

    I would suggest Quite Loader as it is more flexible and capable, information on it can be found at:

    https://infinitekind.tenderapp.com/discussions/investments/4914-the-new-quote-loader#comment_49363660

  2. Maddy closed this discussion on 14 Dec, 2021 02:43 PM.

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