Automatically adjusting exchange rates

Ben's Avatar


19 Apr, 2009 02:50 AM

Hi, I am new to Moneydance, and so far I like it a lot.

I have a checking card that I use regularly to get cash from ATMs in the country where I live, but the currency of the account and dispensed currency are not the same. Say the account is in Euro, and I withdraw US$100 in the US. The moment I withdraw money, I record a transfer from the checking account to a US$ cash account of US$100. Moneydance fills in a matching transaction on the checking account in EUR, based on the current foreign exchange rate, say EUR 75 (FXR=1.33). But when I get my account statement, the actual charged amount is most often different from the amount calculated by Moneydance, say EUR 80 (FXR=1.25). I then change the actual amount in the transaction of the checking account to EUR 80 - but then Moneydance changes the amount withdrawn to US$ 106.40 (which is wrong), instead of adjusting the exchange rate. So in order to reconcile the transactions, I have to calculate the correct exchange rate manually and enter both actual amount in EUR and exchange rate - that is very annoying.

Is there any way that Moneydance keeps the amounts as entered and calculates the correct exchange rate automatically instead?

Thank you very much for your help.

  1. 1 Posted by Brian Adler on 22 Apr, 2009 05:46 PM

    Brian Adler's Avatar

    Ben, Any field in Moneydance expecting numeric input can be entered as math notation. So, enter the amount, then in the rate field enter amount1/amount2 (or possibly inverted). MD will put the right rate in. Brian Moneydance Support

  2. Brian Adler closed this discussion on 22 Apr, 2009 05:46 PM.

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