tag:infinitekind.tenderapp.com,2009-01-14:/discussions/investments/5555-is-there-an-overview-on-how-to-set-up-shares-in-a-different-currencyInfinite Kind: Discussion 2021-03-16T21:00:24Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/489063462020-12-15T20:56:12Z2020-12-15T20:56:12ZIs there an overview on how to set up shares in a different currency?<div><p>I'm a fellow user.</p>
<p>A guide for this does not exist. It is more a matter of understanding how Moneydance works and act accordingly.</p>
<p>As you would know your basic account information is set at the Data set level where you assign your base currency. However you can also set a currency at a lower level for when you need to use multiple currencies, the level this is set at is the individual account level.</p>
<p>So you need to create a new Investment Account using USD as the currency for that specific account. You set up and associate securities with that account in the usual way.</p>
<p>That gives you the basic structure you need.</p>
<p>To move fund to and from that account in many cases you will need to do exchange rate conversions of the amount. To do that I think the easiest way is to switch to the Bank register in the Investment account and use transfers in that register with the correct exchange rates - the bank register can handle transactions that the investment register is not capable of.</p>
<p>This is a very high level overview. I would suggest you quickly set up a new data set and try the set up out, do some transfers, purchase, sales etc and see how it works. I would suggest in this instance you avoid using combo transactions like BuyXfr, SellXfr, DivXfr and break them into their two separate component transactions like a Transfer then a buy, a sell then a transfer and a Dividend then a transfer.</p></div>dwg