Converting Currencies when Exchanging Money on Vacation

Paul's Avatar

Paul

30 Jul, 2010 02:57 PM

We're traveling to India, and I have a "Vacation Rupess" account for transferring money into when I exchange it. However, the iPhone app does not seem to be making the conversion. If I exchange $100, and record it on the iPhone, it is just showing up as 100 rupees instead of approximately 4700 rupees.

I don't understand how to record the currency conversion properly on the iPhone app. It seems to work fine on the computer, but we are not traveling with a computer. It would seem that it's even more important for the currency exchange transaction to work simply on the iPhone.

  1. 1 Posted by hezzer on 05 Aug, 2010 01:22 AM

    hezzer's Avatar

    This is the same point that I raised. Important for holiday makers as well as people who have accounts in more than one country.

  2. 2 Posted by Angie Rauscher on 13 Aug, 2010 09:29 PM

    Angie Rauscher's Avatar

    We recognize this is an issue and are working on the problem. I'm sorry this issue is occurring (I'm leaving for an extended trip abroad myself in a few weeks) and our developer is working hard to get the fix released.

    Please let me know if I can be of further assistance,

    Angie Rauscher
    Moneydance Support

  3. 3 Posted by Michael Evans on 25 Aug, 2010 11:52 AM

    Michael Evans's Avatar

    This is what I suggest you could do, but you need take step one before departing (unless you have your computer with you). On the desktop application create a cash account (under Bank) for Rupees (selecting the currency during the set-up process). While abroad, enter the amount of Rupees you've purchased so you have a starting balance. You then enter your cash expenses as you go.

    On returning home synchronise the iPhone app and you'll find the Rupee account is correct but any contra entries(mostly expenses) are shown unconverted. Example: Spend and enter 100 Rupees and you will see the expense shown in your base currency as $100 or whatever.

    To correct this, select the two-line mode on the desktop Rupee account and simply retype the category in every case. You will see that the conversion factor pops up and the transaction saves correctly. This also applies to your original balance. Say you bought 20,000 Rupees, your base current bank account will be debited with $20,000 (or your local currency) rather than the converted amount. Overtyping the category name of your bank account will force the conversion and everything will balance, including your bank account after you've adjusted the amount to agree with your statement.

    When you next sync with the iPhone app you'll find everything is in order.

    This is a bit of a kludge but it works.

    Michael Evans
    www.macfilos.com

  4. System closed this discussion on 31 Mar, 2015 03:31 PM.

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