Foreign Currencies

jeremy.stoyle's Avatar


03 Oct, 2021 11:12 PM

I have multiple accounts in my Moneydance file and one of them is in Mexican Pesos. The others are in pounds sterling. On the summary page it adds the Mexican Peso balance to the Pounds Sterling balance which gives a meaningless total. I want to be able to enter transactions in Mexican Pesos and for Moneydance to calculate the running balance in Pounds Sterling using the current exchange rate. Is this possible to be and if so could somebody please help me?

  1. Support Staff 1 Posted by Ethan on 03 Oct, 2021 11:32 PM

    Ethan's Avatar


    When you write that "it adds the Mexican Peso balance to the Pounds Sterling balance which gives a meaningless total," do you mean it is just adding up the numbers themselves, and not giving you a total based on the current conversion rate? It sort of sounds like the program is treating those currencies as if they have a 1:1 conversion ratio? If so, I wonder if you have the Quotes and Exchange Rates extension installed and running? You can add this in Extensions -> Manage Extensions from the menu bar.

    If that's not what you mean, could you try explaining what you are seeing in more detail, or perhaps attach a screenshot? If you're not sure how to take a screenshot, please see

    Infinite Kind Support

  2. 2 Posted by derekkent23 on 04 Oct, 2021 07:29 AM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Jeremy

    The attached PDF is my understanding how Moneydance handle foreign currency transactions.

    Hope it helps.

  3. 3 Posted by eric.v.mazzone on 12 Oct, 2021 08:01 PM

    eric.v.mazzone's Avatar

    The system NEEDS to work like this.

    I enter the amount in the foreign currency (yellow), I select if it's going EUR to USD or whatever (green), and have it calculate the base currency and adjust the ledger by THIS amount (red).

    IF the MoneyDance requires us to have the base currency in the (yellow) payment/deposit area, then MoneyDance MUST let us choose which direction the conversion it in the (green area), and let us put the foreign currency in the (red) area and it calculate the value of the (yellow) area for us. Making us start a transaction, then switch to the category ledger, and input everything, is not acceptable behavior.

    I spent WAY too long figuring out that work around, when other financial software does it the way I described. Unfortunately that other software runs on the virus called Windows and I don't want that virus on my system.

  4. 4 Posted by jeremy.stoyle on 15 Nov, 2021 02:24 AM

    jeremy.stoyle's Avatar

    Hello Eric,

    Many thanks for your reply and apologies for my late response.

    Your explanation makes sense and when I try it, it works!

    Now I have problem that the net worth graph of the account I have in a foreign currency has some massive spikes in it which I can’t seem to get rid of no matter what I do. I have just posted a question / report about it on <>.

    Best regards,


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