Moneydance inserting exchange rates inappropriately.

mmagier's Avatar


28 Feb, 2011 04:38 PM

Hello all. I have accounts in US and Canada, do most of my work in canada and thus my default currency is CAD. The problem arises when I enter transactions between 2 US-based accounts. They both have USD as their default currency. I use a US-based bank account to pay off US-based credit cards. When I download this data from my bank, and change the category to the credit card account, an exchange rate gets inserted, which looks like a CAD/USD conversion. I'm having to go back and find all these and correct them. I assumed if both accounts were USD, then this wouldn't happen!!

Any help?


  1. 1 Posted by Ben Spencer on 28 Feb, 2011 04:59 PM

    Ben Spencer's Avatar

    Moneydance will only enable the rate field if the accounts on either side of the transaction have different currencies. Can you please double check that the currencies are indeed both USD.

    Ben Spencer
    Moneydance Support

  2. 2 Posted by robgarr104 on 25 Apr, 2011 05:58 PM

    robgarr104's Avatar

    I have had exactly the same problem with MD2010. At times when there is a tranfer between 2 USD accounts, the amount is converted to $CDN. I have double checked the currency for the accounts and they are both USD. I can go back in and delete the bank generated transaction and manually re-insert it which resolves the issue, but I shouldn't have to do this. Otherwise I am very pleased with this product.

  3. 3 Posted by Angie Rauscher on 27 May, 2011 06:38 PM

    Angie Rauscher's Avatar


    I apologize for the long delay in our response, and was hoping you could let me know what version of Moneydance 2010 you are running (available under the Help->About Moneydance) which will help me to determine if this is a bug or an ongoing issue. Moneydance 2011 also offers some fantastic expanded multi-currency options when I'm enjoying, and you can find more details on what new features Moneydance 2011 offers on our blog.

    Thanks for using Moneydance, and please let me know if I can be of further assistance,

    Angie Rauscher
    Moneydance Support

  4. Angie Rauscher closed this discussion on 27 May, 2011 06:38 PM.

  5. robgarr104 re-opened this discussion on 28 May, 2011 04:45 AM

  6. 4 Posted by robgarr104 on 28 May, 2011 04:45 AM

    robgarr104's Avatar

    Hello Angie,
    The version is 2010r3(757)
    To reiterate, the problem seems to be with downloaded transactions from a
    Canadian bank account to a US bank account, and sometimes between
    a downloaded US bank account to a US bank account when the $CAD is the
    default currency...In
    every case when the faulty transaction (exchange rate error) is deleted and
    replaced with a manual transaction, the problem is resolved exchange rate
    I have already tried the trial version o MD 2011 on my wife's computer, but
    have not used it enough to know if the above issue is resolved in the new
    I really liked a lot of what I see in MD 2011 and look forward to the full
    Any idea of when that will occur?

    You guys are champs in my eyes, much better than MS Money for my money :)

    Regards, Robert Garry

    On Fri, May 27, 2011 at 11:38 AM, Angie Rauscher <
    [email blocked]> wrote:

  7. 5 Posted by Ben Spencer on 30 May, 2011 02:14 PM

    Ben Spencer's Avatar

    Hi Robert

    There is currently a bug that can cause an incorrect exchange rate. It is caused by having a default category on an account that is in a different currency from the account. e.g. if you have a USD account with the default category "ATM Withdrawal" and "ATM withdrawal" is a CAD category. The problem is that when a categoy is changed during the confirmation process the rate does not get corrected and you end up with the same rate after the category is changed.

    The short term workaround is to create a new default category in the USD currency for your USD accounts.

    I am sorry for the trouble this has caused you.

    Ben Spencer
    Moneydance Support

  8. System closed this discussion on 31 Mar, 2015 03:34 PM.

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